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Our Gen3Tech can largely mitigate the environmental problems of CAFOs, while simultaneously improving operational/ resource efficiencies by recovering high-value co-products from the waste stream, including renewable energy, nutrients, and clean water. For the last several years, Bion was focused on the beef industry because we believe it faces the most challenges of all the livestock sectors and can benefit the most from the application of Bion’s technology and business strategy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until recently, we believed that the best opportunity for the Company to prove its technology, along with the sustainable beef concept, was with the Stovall Ranch, in Montana. In June 2024, Bion formed a strategic relationship with Turk Stovall and Stovall Ranching Companies. Bion and Stovall agreed to establish a JV, to be led by Mr. Stovall, with the goal of developing a 16,000-head sustainable beef project at Stovall’s Yellowstone Cattle Feeders (‘YCF’) location in Shepherd, Montana. We anticipated establishing the Stovall-Bion JV and creating related distribution agreements with key value chain partners during the 2024 calendar year, with the intent to begin construction in the first quarter of 2025. However, due to several factors, including 1) the extended development timeline to reach revenues at Stovall (which could be at least two years or more), 2) a need to prove our technology at full-scale as quickly as possible, and 3) enter the fertilizer markets with product in the 2026 growing season, we shifted our focus to smaller ‘bolt-on’ opportunities in both the animal waste and industrial sectors that we think can be developed more quickly.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bion’s patents were expanded in 2024 to include industrial and municipal wastewater sources, in addition to animal waste streams that were previously covered. To that end, Bion directed part of its limited resources to understanding and evaluating opportunities to apply its Ammonia Recovery System (ARS) as a bolt-on or ‘standalone’ ammonia control solution in the industrial sector. In such cases, the ARS would be deployed as an ammonia control solution (vs integrated into a Bion Gen3Tech livestock platform) for facilities (both new and existing) that produce biogas from organic waste streams, such as food, food processing, and livestock packing/slaughter. These facilities are subject to EPA-mandated discharge limits that require ammonia control or face other limitations on ammonia/nitrogen in the effluent from biogas production. <span style="letter-spacing: -0.25pt">It should be noted that central processing facilities that treat the waste from more than one farm are required to have discharge permits, like industrial facilities. </span>We will also seek to identify opportunities to provide ammonia control solutions in the livestock/animal waste at existing farms with anaerobic digesters already in place (which will also shorten the development timeline). While we have not abandoned developing new integrated livestock projects with our Gen3tech platform, we believe there is a robust opportunity to provide bolt-on ammonia control solutions to others’ biogas facilities, and we are now devoting almost all of our resources to developing this opportunity.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b>Going Concern</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt">The Company’s condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify">The Company is not currently generating any significant revenues. Further, the Company’s anticipated revenues, if any, from existing JVs and proposed projects will not be sufficient to offset operating and capital costs (for Projects) for a minimum of two to five years. Further, there are no assurances that the Company will ultimately be successful in its efforts to develop and construct its Projects and market its Systems; but, it is certain that the Company will require substantial funding from external sources. Given the unsettled state of the current credit and capital markets for companies such as Bion, there is no assurance the Company will be able to raise the funds it needs on reasonable terms. The aggregate effect of these factors raises substantial doubt about the Company’s ability to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 17.85pt 0pt 0.2pt; text-align: justify">Year to date ended March 31, 2026 the Company had a loss of $<span id="xdx_906_ecustom--NetLoss_pp0p0_c20250701__20260331_zS1qIGTauGH6" title="Net loss">1,360,000</span> including $<span id="xdx_90E_ecustom--NoncashCompensationExpensesRelatedToExtensionOfWarrantsAndOptions_pp0p0_c20250701__20260331_zqR2CgvdrQH7" title="Non-cash compensation expenses related to extension of warrants and options">125,000</span> non-cash compensation expenses related to extension of warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The constraints on available resources have had, and continue to have, negative effects on the pace and scope of the Company’s efforts to operate and develop its business. The Company has had to delay payment of trade obligations and has had to economize in many ways that have potentially negative consequences. If the Company is able to raise needed funds during the remainder of the current fiscal year (and subsequent periods), of which there is no assurance, management will not need to consider deeper cuts (including additional personnel cuts) and/or curtailment of ongoing activities including research and development activities. The Company will need to obtain additional capital to fund its operations and technology development, to satisfy existing creditors, and to develop Projects. The Company anticipates that it will seek to raise from $<span id="xdx_90D_eus-gaap--CapitalRequiredForCapitalAdequacy_iI_pp0d_c20260331__srt--RangeAxis__srt--MinimumMember_zxFuwVTiT1D5" title="Capital required for capital adequacy">3,000,000</span> to $<span id="xdx_908_eus-gaap--CapitalRequiredForCapitalAdequacy_pp0d_c20260331__srt--RangeAxis__srt--MaximumMember_zJKyaMRA1GL4" title="Capital required for capital adequacy">10,000,000</span> or more debt and/or equity through sale of its equity securities (common, preferred and/or hybrid) and/or debt (including convertible) securities, and/or through use of ‘rights’ and/or warrants (new and/or existing) and/or license payments and/or through other means during the next twelve months. Further, Bion will be required to fund $8 million (or more) in project finance for the initial ARS project, in a combination of debt financing and equity investment. However, as discussed above, there is no assurance, especially in light of the difficulties the Company has experienced in many recent years and the extremely unsettled capital markets that presently exist for small pre- revenue companies like us, that the Company will be able to obtain the funds that it needs to stay in business, complete its technology development or to successfully develop its business and Projects. Ultimately, in the event the Company cannot secure additional financial resources, or complete a strategic transaction in the longer term, the Company may need to curtail or suspend its operational plans or current initiatives, or potentially liquidate its business interests, and investors may lose all or part of their investment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying condensed consolidated financial statements do not include any adjustments relating to the recoverability or classification of assets or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern. The following paragraphs describe management’s plans with regard to these conditions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Management’s Plan</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company continues to explore sources of financing to satisfy its current operating requirements and future growth needs. The Company faced substantial demand for capital and operating expenditures during fiscal year 2025, which has continued during the 2026 fiscal year, and which we expect to increase for the periods thereafter as we move toward commercial implementation of our ARS (including costs associated with additions of personnel to carry out the business activities of the Company). As a result, the Company has faced, and continues to face, significant cash flow management challenges due to material working capital constraints. To partially mitigate these working capital constraints, the Company's core senior management and some key employees and consultants have been deferring most of their cash compensation and/or are accepting compensation in the form of securities of the Company and members of the Company's senior management have from time-to-time made loans to the Company in the past and may do so in future periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To help alleviate short-term cash needs for continued operations, in August 2024, three affiliates of the Company (Greg Schoener, Interim COO &amp; Director; Turk Stovall, previous Director; Bob Weerts, now-deceased Director) and two shareholders (one of whom is the brother of Greg Schoener) began advancing money to Bion to cover critical payables. They subsequently formed a loan group, BION BLG, LLC (“BLG”), and provided short-term funding for Bion in a secured promissory note of up to $<span id="xdx_90D_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20241114__dei--LegalEntityAxis__custom--NewlyFormedLLCMember_zv31SOgAKYdf" title="Convertible notes payable">500,000</span>. Schoener, Weerts, and the two non-affiliate members were also large Bion shareholders, prior to the formation of BLG. As a group, Schoener, Stovall, and Weerts own 60% of BLG, which has a security interest in the Company’s Intellectual Property. The BLG note bears interest at a rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20241102__20241114__dei--LegalEntityAxis__custom--NewlyFormedLLCMember_zvlqL0Dk1R86" title="Interest rate">9</span>% per annum and the maturity date is June 30, 2026. As of the filing date, BLG has advanced $<span id="xdx_902_eus-gaap--ConvertibleDebt_iI_pp0d_c20241114__dei--LegalEntityAxis__custom--NewlyFormedLLCMember_zelHyOjTbiKc" title="Aggregate sum advance">415,735</span>. The BLG note will convert into Units (shares and/or warrants) in the Company at the terms of a later capital raise, in which Bion crosses the threshold of $3 (three) million in aggregate capital raised (or other source of funding, and other terms as defined in the note). If the Company is unable to complete such funding within six (6) months, it will be in default of the BLG note, which is secured by the Company’s Intellectual Property (“IP” “Collateral”). BLG will share the Collateral on a pro rata basis with investors in a secured promissory note with similar terms being offered to previous Bion investors. The BLG note and security agreements contain other terms set forth therein and are included as exhibits to this filing. The Company has entered into three forbearance agreements; the second that raised the interest rate to 9% and the third that extended the maturity date to June 30, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2024, the Company launched a series of secured promissory note offerings to previous investors/shareholders (and certain others) (“Shareholder Notes”) with similar terms to the BLG note. Based on feedback from shareholders and registered representatives with which the Company has long standing relationships, management believed at that time that sufficient capital could be raised with this group to 1) continue to cover critical payables to maintain operations that will allow the Company to finish the engineering report and technology demonstration at Fair Oaks, 2) move forward with pre-development work on the Stovall project, 3) continue discussions with potential strategic partners, and 4) position ourselves for the larger offering/ funding that will be required. As of the filing date, Bion has raised $1,164,800 in the Shareholder Note offerings. Further, Bion has changed its focus from pre-development work on the Stovall project, to an initial bolt-on project at an existing facility.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To date, the Company has primarily raised funds through private placements with accredited investors, often conducted through FINRA-registered broker/dealers. However, the Company anticipates moving forward, it will need to raise capital using a combination of financial instruments and sources, that could also include strategic and/or institutional investors, including family offices and private equity, brokered equity or debt offerings with both public and private investors, and banks and other ag lending institutions, among others, although there can be no assurance it will be successful. Many of these financing options may involve dilution, potentially substantial, for current shareholders. Management intends to augment its access to capital by adding one or more staff members (or consultants) with experience in the capital markets, as well as utilizing its current contacts and relationships in the capital markets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bion is currently in discussions with several potential strategic partners in engineering, renewable energy (biogas/RNG) and clean fuels, organic fertilizer distribution, and others involved in reducing the environmental footprint of biogas and livestock production. With today’s U.S, and global emphasis on decarbonizing energy and the food supply chain, and their impacts on water and air pollution, the sectors have become closely intertwined. They are evolving quickly, and integrated solutions have become increasingly desired, but complex. Bion is now evaluating engineering and construction firms, biogas operators, and others as potential development partners for industrial and livestock opportunities. Further, with the recent OMRI Listing for its commercial fertilizer, the Company has initiated discussions with several large U.S. fertilizer manufacturers and distributors that have expressed interest in the product. Bion believes that such relationships could entail a direct investment in Bion, licensing fee, or some other ‘up front’ financial benefit to Bion, although there is no assurance that they will. In June 2025, the Company completed its Technology-Optimization Report that is critical to demonstrating the technology performance and economics of its ammonia recovery technology to potential strategic partners.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>THERE IS NO ASSURANCE THAT THE COMPANY WILL REACH OR APPROACH THE GOALS/TARGETS SET FORTH ABOVE. REACHING SUCH GOALS/TARGETS WILL REQUIRE RESOLUTION OF THE COMPANY’S EXISTING FINANCIAL DIFFICULTIES AND ACCESS TO VERY LARGE AMOUNTS OF CAPITAL (EQUITY AND DEBT) AS EACH BOLT-ON ARS PROJECT IS PROJECTED TO COST IN EXCESS OF $8 MILLION (DEBT/EQUITY/GRANTS) TO CONSTRUCT AND WILL REQUIRE MOBILIZATION OF SUBSTANTIAL PERSONNEL, TECHNICAL RESOURCES AND MANAGEMENT SKILLS. THE COMPANY DOES NOT POSSESS EITHER THE FINANCIAL OR PERSONNEL RESOURCES INTERNALLY AND WILL NEED TO SOURCE SUCH RESOURCES FROM OUTSIDE.</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 1360000 125000 3000000 10000000 500000 0.09 415735 <p id="xdx_804_eus-gaap--SignificantAccountingPoliciesTextBlock_zt7vCvBD5Rj" style="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>2.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_82D_z2cqeoyxRTzg">SIGNIFICANT ACCOUNTING POLICIES</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_zzPW88bDPN48" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_867_zh5W7fyZ5mMh">Principles of consolidation:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify">The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Bion Integrated Projects Group, Inc., Bion Technologies, Inc., BionSoil, Inc., Bion Services, Bion PA2 LLC and Bion 3G-1 LLC (“3G1”); and its 58.9% owned subsidiary, Centerpoint Corporation (“Centerpoint”). All significant intercompany accounts and transactions have been eliminated in consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying condensed consolidated financial statements have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the Company’s latest 10K. The condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring entries) that, in the opinion of management, are necessary to present fairly the financial position at March 31, 2026, the results of operations and cash flows of the Company for the three and nine months ended March 31, 2026 and 2025. Operating results for the three and nine months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the year ending June 30, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_848_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zX2lDPzlJnA5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_866_zpwH95EJKKN">Operating Segment:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company operates a <span id="xdx_90E_eus-gaap--NumberOfOperatingSegments_dxL_uInteger_c20250701__20260331_zeuS5DkpULll" title="Number of operating segment::XDX::1"><span id="xdx_90D_eus-gaap--NumberOfReportableSegments_dxL_uInteger_c20250701__20260331_zQC3Vd37hpS4" title="Number of reportable segment::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl0800"><span style="-sec-ix-hidden: xdx2ixbrl0802">single</span></span></span></span> reportable segment: advanced waste treatment and resource recovery solutions for organic waste streams. While in the future the Company may pursue other segments—develop integrated livestock projects, implement CAFO retrofits, and exploit other opportunities to use its proprietary technology (as previously described)—at this time it is now focused entirely on bolt-on solutions for existing or planned biogas production facilities. The business is managed by the Chief Executive Officer who is the Chief Operating Decision Maker (“CODM”).  The CODM evaluates segment performance based on the operating income (loss) for purposes of allocating resources and evaluating financial performance.  The accounting policies of our single reportable segment are the same as those for the Company as a whole. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84F_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z0tB9Xqs8zf8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86A_za5rFNXmhJ17">Cash and cash equivalents:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt">The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash and cash equivalents. As of March 31, 2026 and June 30, 2025 there are <span id="xdx_90C_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0d_do_c20260331_zi2CkuoKacid" title="Cash equivalents"><span id="xdx_90D_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0d_do_c20250630_zi8azKQp92hi" title="Cash equivalents">no</span></span> cash equivalents.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> <p id="xdx_843_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zLZBH1aNNI2i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86C_zgPIpFWfvqZf">Property and equipment:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify">Property and equipment are stated at cost and are depreciated, when placed into service, using the straight-line method over the estimated useful lives of the related assets, generally three to twenty years. The Company capitalizes all direct costs and all indirect incrementally identifiable costs related to the design and construction of its Integrated Projects such as consulting fees, internal salaries and benefits and interest. The Company reviews its property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss would be recognized based on the amount by which the carrying value of the assets or asset group exceeds its estimated fair value and is recognized as a loss from operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify"><b> </b></p> <p id="xdx_84B_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zsZFcA5zZqmf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_864_zemZV72crLba">Patents:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has elected to expense all costs and filing fees related to obtaining patents (resulting in no related asset being recognized in the Company’s consolidated balance sheets) because the Company believes such costs and fees are immaterial (in the context of the Company’s total costs/expenses) and have no direct relationship to the value of the Company’s patents.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zw37VsXwpQP4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_868_z9W3BGIkyL7l">Stock-based compensation:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the provisions of Accounting Standards Codification (“ASC”) 718, which generally requires that share-based compensation transactions be accounted and recognized in the statement of operations based upon their grant date fair values.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p id="xdx_840_eus-gaap--DerivativesPolicyTextBlock_zzawIuIicpI3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_860_zPp5dVn7E4b4">Derivative Financial Instruments:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to ASC Topic 815 “Derivatives and Hedging” (“Topic 815”), the Company reviews all financial instruments for the existence of features which may require fair value accounting and a related mark-to-market adjustment at each reporting period end. Once determined, the Company assesses these instruments as derivative liabilities. The fair value of these instruments is adjusted to reflect the fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--AvailableForSaleSecuritiesPurchasedOptionsPricePolicy_zTcX0HRUFQM1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_866_zQB32ebKRQUc">Options:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has issued options to employees and consultants under the 2006 Plan to purchase common shares of the Company. Options are valued on the grant date using the Black-Scholes option-pricing model. The expected volatility is based on the historical price volatility of the Company’s common stock. The dividend yield represents the Company’s anticipated cash dividend on common stock over the expected term of the stock options. The U.S. Treasury bill rate for the expected term of the stock options was utilized to determine the risk-free interest rate. The expected term of stock options represents the period of time the stock options granted are expected to be outstanding based upon management’s estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_848_ecustom--EquityIssuancesWarrantsPolicyPolicyTextBlock_z3jXvNmISXK9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_863_z5VFHKfoiEY3">Warrants:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has issued warrants to purchase common shares of the Company. Warrants are valued using a fair value based method, whereby the fair value of the warrant is determined at the warrant issue date using a market-based option valuation model based on factors including an evaluation of the Company’s value as of the date of the issuance, consideration of the Company’s limited liquid resources and business prospects, the market price of the Company’s stock in its mostly inactive public market and the historical valuations and purchases of the Company’s warrants. When warrants are issued in combination with debt or equity securities, the warrants are valued and accounted for based on the relative fair value of the warrants in relation to the total value assigned to the debt or equity securities and warrants combined.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_z6KpiIJOFcMc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_868_zBNWoL6ZwVoe">Concentrations of credit risk</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company's financial instruments that are exposed to concentrations of credit risk consist of cash. The Company's cash is in demand deposit accounts placed with federally insured financial institutions and selected brokerage accounts. Such deposit accounts at times may exceed federally insured limits. The Company has not experienced any losses on such accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_ecustom--MinorityInterestPolicyPolicyTextBlock_zyB7yexwWFDb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86E_zSm1nKeS1fFa">Noncontrolling interests:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 810, “Consolidation”, the Company separately classifies noncontrolling interests within the equity section of the consolidated balance sheets and separately reports the amounts attributable to controlling and noncontrolling interests in the consolidated statements of operations. In addition, the noncontrolling interest continues to be attributed its share of losses even if that attribution results in a deficit noncontrolling interest balance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zcXUVyORkge7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_865_zO6m0FZZ1NF2">Fair value measurements:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of input to determine fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 2 – observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 3 – assets and liabilities whose significant value drivers are unobservable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of cash and accounts payable approximates their carrying amounts due to their short-term maturities. The fair value of the loan payable is indeterminable at this time due to the nature of the arrangement with a state agency and the fact that it is in default. The fair value of the redeemable preferred stock approximates its carrying value due to the dividends accrued on the preferred stock which are reflected as part of the redemption value. The fair value of the deferred compensation and convertible notes payable - affiliates are not practicable to estimate due to the related party nature of the underlying transactions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--LessorLeasesPolicyTextBlock_zx5FvoifhWm6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_869_zUeoIGWFzpGi">Lease Accounting:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for leases under ASC 842, <i>Leases </i>(“ASC 842”). Accordingly, the Company will determine whether an arrangement contains a lease at the inception of the arrangement. If a lease is determined to exist, the term of such lease is assessed based on the date on which the underlying asset is made available for the Company’s use by the lessor. The Company’s assessment of the lease term reflects the non-cancelable term of the lease, inclusive of any rent- free periods and/or periods covered by early-termination options which the Company is reasonably certain of not exercising, as well as periods covered by renewal options which the Company is reasonably certain of exercising. The Company also determines lease classification as either operating or finance at lease commencement, which governs the pattern of expense recognition and the presentation reflected in the condensed and consolidated statements of operations over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For leases with a term exceeding 12 months, a lease liability is recorded on the Company’s condensed and consolidated balance sheet at lease commencement reflecting the present value of its fixed minimum payment obligations over the lease term. A corresponding right-of-use (“ROU”) asset equal to the initial lease liability is also recorded, adjusted for any prepaid rent and/or initial direct costs incurred in connection with execution of the lease and reduced by any lease incentives received. For purposes of measuring the present value of its fixed payment obligations for a given lease, the Company uses its incremental borrowing rate, determined based on information available at lease commencement, as rates implicit in its leasing arrangements are typically not readily determinable. The Company's incremental borrowing rate reflects the rate it would pay to borrow on a secured basis and incorporates the term and economic environment of the associated lease.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_844_eus-gaap--RevenueRecognitionPolicyTextBlock_zaQ8HijCEx29" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_863_zw8MBFSjJGp1">Revenue Recognition:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company currently does not generate revenue and if and when the Company begins to generate revenue the Company will comply with the provisions of ASC 606 “Revenue from Contracts with Customers”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84A_eus-gaap--EarningsPerSharePolicyTextBlock_zCHjyaGifqEg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86E_zG5phjCUjD3i">Income (Loss) per share:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic income (loss) per share amounts are calculated using the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share assumes the conversion, exercise, or issuance of all potential common stock instruments, such as options or warrants, unless the effect is to reduce the income (loss) per share or increase the earnings per share. During the three and nine months ended March 31, 2026 and 2025, the basic and diluted income (loss) per share was the same, as the impact of potential dilutive common shares was anti-dilutive.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table represents the warrants and options (as if exercised) and convertible securities (as if converted) that have been excluded from the calculation of basic income (loss) per share:</p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zQ6yaLdTDIQf" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BC_zNZEiXIEwVfk" style="display: none">Schedule of basic income (loss) per share</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31, 2026</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31, 2025</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 66%">Warrants</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zaMDSxKOc0Md" title="Antidilutive securities">6,674,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_904_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVJuhQF5pTT2" title="Antidilutive securities">15,910,225</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Options</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zGdkVhY7p5V6" title="Antidilutive securities">3,651,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zG2wdvYFKZmi" title="Antidilutive securities">4,891,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Convertible debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertiblesDebtMember_zgfT2nFSfMk" title="Antidilutive securities">5,425,839</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertiblesDebtMember_zo0cOY9M8x91" title="Antidilutive securities">11,281,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zr4atbUV1aM7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a reconciliation of the denominators of the basic and diluted income (loss) per share computations for the three and nine months ended March 31, 2026 and 2025.</p> <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zpHncQazQNfh" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BF_zBdscP1ZAJKh" style="display: none">Schedule of reconciliation of the denominators of the basic and diluted income (loss) per share</span></td><td> </td> <td colspan="2" id="xdx_495_20260101__20260331_z36Gohhup3p" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20250331_zqaMj9e6DSha" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20250701__20260331_zJ3rQ0YRHemd" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_490_20240701__20250331_zsJ4jddv0G6k" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Three months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Three months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Nine months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Nine months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_ecustom--SharesIssuedBeginningOfPeriod_zzlZAVsyYQTf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48%">Shares issued – beginning of period</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,996,635</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,236,479</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,386,476</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,227,248</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--SharesHeldBySubsidiaries_iN_di_zchBMR8eYM4h" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Shares held by subsidiaries (Note 7)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--SharesOutstandingBeginningOfPeriod_zPTM9amcfYxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Shares outstanding – beginning of period</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">57,292,326</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,532,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,682,167</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,522,939</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--WeightedAverageSharesIssuedDuringPeriod_zwJFcTvmKA5c" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 5.4pt">Weighted average shares issued <br/>     during the period</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,274</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">64,999</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">261,203</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">30,076</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_z1BqNadNyqr7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt">Diluted weighted average shares – <br/>     end of period</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">57,304,600</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,597,169</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,943,370</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,553,015</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zJGlzBe03nEl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84E_eus-gaap--UseOfEstimates_zl97wVNHh8Ce" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_862_zymkqSizWR5a">Use of estimates:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the Company’s condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zZCIB0drwReb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86B_z0gN4shkBeVk">Recent Accounting Pronouncements:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its condensed consolidated financial statements and assures that there are proper controls in place to ascertain that the Company’s condensed consolidated financial statements properly reflect the change.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU introduces new requirements to enhance the transparency and decision usefulness of income tax information for financial statement users.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key provisions require all entities to disclose annually their income or loss before income tax, income tax expense (or benefit) from continuing operations, and income taxes paid (net of refunds received), each disaggregated by domestic, foreign, federal (national), and state components. Income taxes paid also require further disaggregation for significant individual jurisdictions. Public Business Entities (PBEs) have additional requirements for a more detailed tabular reconciliation of the effective tax rate, including percentages, amounts, and qualitative descriptions by jurisdiction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is required to adopt ASU 2023-09 for its fiscal year ending June 30, 2026. The adoption is not expected to materially impact the Company's financial statements but will expand annual income tax disclosures. The Company is currently evaluating the full impact of the required disclosures and the adoption method.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_zzPW88bDPN48" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_867_zh5W7fyZ5mMh">Principles of consolidation:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify">The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Bion Integrated Projects Group, Inc., Bion Technologies, Inc., BionSoil, Inc., Bion Services, Bion PA2 LLC and Bion 3G-1 LLC (“3G1”); and its 58.9% owned subsidiary, Centerpoint Corporation (“Centerpoint”). All significant intercompany accounts and transactions have been eliminated in consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying condensed consolidated financial statements have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the Company’s latest 10K. The condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring entries) that, in the opinion of management, are necessary to present fairly the financial position at March 31, 2026, the results of operations and cash flows of the Company for the three and nine months ended March 31, 2026 and 2025. Operating results for the three and nine months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the year ending June 30, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_848_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zX2lDPzlJnA5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_866_zpwH95EJKKN">Operating Segment:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company operates a <span id="xdx_90E_eus-gaap--NumberOfOperatingSegments_dxL_uInteger_c20250701__20260331_zeuS5DkpULll" title="Number of operating segment::XDX::1"><span id="xdx_90D_eus-gaap--NumberOfReportableSegments_dxL_uInteger_c20250701__20260331_zQC3Vd37hpS4" title="Number of reportable segment::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl0800"><span style="-sec-ix-hidden: xdx2ixbrl0802">single</span></span></span></span> reportable segment: advanced waste treatment and resource recovery solutions for organic waste streams. While in the future the Company may pursue other segments—develop integrated livestock projects, implement CAFO retrofits, and exploit other opportunities to use its proprietary technology (as previously described)—at this time it is now focused entirely on bolt-on solutions for existing or planned biogas production facilities. The business is managed by the Chief Executive Officer who is the Chief Operating Decision Maker (“CODM”).  The CODM evaluates segment performance based on the operating income (loss) for purposes of allocating resources and evaluating financial performance.  The accounting policies of our single reportable segment are the same as those for the Company as a whole. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84F_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z0tB9Xqs8zf8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86A_za5rFNXmhJ17">Cash and cash equivalents:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt">The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash and cash equivalents. As of March 31, 2026 and June 30, 2025 there are <span id="xdx_90C_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0d_do_c20260331_zi2CkuoKacid" title="Cash equivalents"><span id="xdx_90D_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0d_do_c20250630_zi8azKQp92hi" title="Cash equivalents">no</span></span> cash equivalents.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> 0 0 <p id="xdx_843_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zLZBH1aNNI2i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86C_zgPIpFWfvqZf">Property and equipment:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify">Property and equipment are stated at cost and are depreciated, when placed into service, using the straight-line method over the estimated useful lives of the related assets, generally three to twenty years. The Company capitalizes all direct costs and all indirect incrementally identifiable costs related to the design and construction of its Integrated Projects such as consulting fees, internal salaries and benefits and interest. The Company reviews its property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss would be recognized based on the amount by which the carrying value of the assets or asset group exceeds its estimated fair value and is recognized as a loss from operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify"><b> </b></p> <p id="xdx_84B_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zsZFcA5zZqmf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_864_zemZV72crLba">Patents:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has elected to expense all costs and filing fees related to obtaining patents (resulting in no related asset being recognized in the Company’s consolidated balance sheets) because the Company believes such costs and fees are immaterial (in the context of the Company’s total costs/expenses) and have no direct relationship to the value of the Company’s patents.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zw37VsXwpQP4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_868_z9W3BGIkyL7l">Stock-based compensation:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the provisions of Accounting Standards Codification (“ASC”) 718, which generally requires that share-based compensation transactions be accounted and recognized in the statement of operations based upon their grant date fair values.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p id="xdx_840_eus-gaap--DerivativesPolicyTextBlock_zzawIuIicpI3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_860_zPp5dVn7E4b4">Derivative Financial Instruments:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to ASC Topic 815 “Derivatives and Hedging” (“Topic 815”), the Company reviews all financial instruments for the existence of features which may require fair value accounting and a related mark-to-market adjustment at each reporting period end. Once determined, the Company assesses these instruments as derivative liabilities. The fair value of these instruments is adjusted to reflect the fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--AvailableForSaleSecuritiesPurchasedOptionsPricePolicy_zTcX0HRUFQM1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_866_zQB32ebKRQUc">Options:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has issued options to employees and consultants under the 2006 Plan to purchase common shares of the Company. Options are valued on the grant date using the Black-Scholes option-pricing model. The expected volatility is based on the historical price volatility of the Company’s common stock. The dividend yield represents the Company’s anticipated cash dividend on common stock over the expected term of the stock options. The U.S. Treasury bill rate for the expected term of the stock options was utilized to determine the risk-free interest rate. The expected term of stock options represents the period of time the stock options granted are expected to be outstanding based upon management’s estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_848_ecustom--EquityIssuancesWarrantsPolicyPolicyTextBlock_z3jXvNmISXK9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_863_z5VFHKfoiEY3">Warrants:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has issued warrants to purchase common shares of the Company. Warrants are valued using a fair value based method, whereby the fair value of the warrant is determined at the warrant issue date using a market-based option valuation model based on factors including an evaluation of the Company’s value as of the date of the issuance, consideration of the Company’s limited liquid resources and business prospects, the market price of the Company’s stock in its mostly inactive public market and the historical valuations and purchases of the Company’s warrants. When warrants are issued in combination with debt or equity securities, the warrants are valued and accounted for based on the relative fair value of the warrants in relation to the total value assigned to the debt or equity securities and warrants combined.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_z6KpiIJOFcMc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_868_zBNWoL6ZwVoe">Concentrations of credit risk</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company's financial instruments that are exposed to concentrations of credit risk consist of cash. The Company's cash is in demand deposit accounts placed with federally insured financial institutions and selected brokerage accounts. Such deposit accounts at times may exceed federally insured limits. The Company has not experienced any losses on such accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_ecustom--MinorityInterestPolicyPolicyTextBlock_zyB7yexwWFDb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86E_zSm1nKeS1fFa">Noncontrolling interests:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 810, “Consolidation”, the Company separately classifies noncontrolling interests within the equity section of the consolidated balance sheets and separately reports the amounts attributable to controlling and noncontrolling interests in the consolidated statements of operations. In addition, the noncontrolling interest continues to be attributed its share of losses even if that attribution results in a deficit noncontrolling interest balance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zcXUVyORkge7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_865_zO6m0FZZ1NF2">Fair value measurements:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of input to determine fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 2 – observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 3 – assets and liabilities whose significant value drivers are unobservable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of cash and accounts payable approximates their carrying amounts due to their short-term maturities. The fair value of the loan payable is indeterminable at this time due to the nature of the arrangement with a state agency and the fact that it is in default. The fair value of the redeemable preferred stock approximates its carrying value due to the dividends accrued on the preferred stock which are reflected as part of the redemption value. The fair value of the deferred compensation and convertible notes payable - affiliates are not practicable to estimate due to the related party nature of the underlying transactions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--LessorLeasesPolicyTextBlock_zx5FvoifhWm6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_869_zUeoIGWFzpGi">Lease Accounting:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for leases under ASC 842, <i>Leases </i>(“ASC 842”). Accordingly, the Company will determine whether an arrangement contains a lease at the inception of the arrangement. If a lease is determined to exist, the term of such lease is assessed based on the date on which the underlying asset is made available for the Company’s use by the lessor. The Company’s assessment of the lease term reflects the non-cancelable term of the lease, inclusive of any rent- free periods and/or periods covered by early-termination options which the Company is reasonably certain of not exercising, as well as periods covered by renewal options which the Company is reasonably certain of exercising. The Company also determines lease classification as either operating or finance at lease commencement, which governs the pattern of expense recognition and the presentation reflected in the condensed and consolidated statements of operations over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For leases with a term exceeding 12 months, a lease liability is recorded on the Company’s condensed and consolidated balance sheet at lease commencement reflecting the present value of its fixed minimum payment obligations over the lease term. A corresponding right-of-use (“ROU”) asset equal to the initial lease liability is also recorded, adjusted for any prepaid rent and/or initial direct costs incurred in connection with execution of the lease and reduced by any lease incentives received. For purposes of measuring the present value of its fixed payment obligations for a given lease, the Company uses its incremental borrowing rate, determined based on information available at lease commencement, as rates implicit in its leasing arrangements are typically not readily determinable. The Company's incremental borrowing rate reflects the rate it would pay to borrow on a secured basis and incorporates the term and economic environment of the associated lease.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_844_eus-gaap--RevenueRecognitionPolicyTextBlock_zaQ8HijCEx29" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_863_zw8MBFSjJGp1">Revenue Recognition:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company currently does not generate revenue and if and when the Company begins to generate revenue the Company will comply with the provisions of ASC 606 “Revenue from Contracts with Customers”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_84A_eus-gaap--EarningsPerSharePolicyTextBlock_zCHjyaGifqEg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86E_zG5phjCUjD3i">Income (Loss) per share:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic income (loss) per share amounts are calculated using the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share assumes the conversion, exercise, or issuance of all potential common stock instruments, such as options or warrants, unless the effect is to reduce the income (loss) per share or increase the earnings per share. During the three and nine months ended March 31, 2026 and 2025, the basic and diluted income (loss) per share was the same, as the impact of potential dilutive common shares was anti-dilutive.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table represents the warrants and options (as if exercised) and convertible securities (as if converted) that have been excluded from the calculation of basic income (loss) per share:</p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zQ6yaLdTDIQf" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BC_zNZEiXIEwVfk" style="display: none">Schedule of basic income (loss) per share</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31, 2026</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31, 2025</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 66%">Warrants</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zaMDSxKOc0Md" title="Antidilutive securities">6,674,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_904_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVJuhQF5pTT2" title="Antidilutive securities">15,910,225</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Options</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zGdkVhY7p5V6" title="Antidilutive securities">3,651,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zG2wdvYFKZmi" title="Antidilutive securities">4,891,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Convertible debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertiblesDebtMember_zgfT2nFSfMk" title="Antidilutive securities">5,425,839</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertiblesDebtMember_zo0cOY9M8x91" title="Antidilutive securities">11,281,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zr4atbUV1aM7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a reconciliation of the denominators of the basic and diluted income (loss) per share computations for the three and nine months ended March 31, 2026 and 2025.</p> <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zpHncQazQNfh" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BF_zBdscP1ZAJKh" style="display: none">Schedule of reconciliation of the denominators of the basic and diluted income (loss) per share</span></td><td> </td> <td colspan="2" id="xdx_495_20260101__20260331_z36Gohhup3p" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20250331_zqaMj9e6DSha" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20250701__20260331_zJ3rQ0YRHemd" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_490_20240701__20250331_zsJ4jddv0G6k" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Three months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Three months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Nine months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Nine months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_ecustom--SharesIssuedBeginningOfPeriod_zzlZAVsyYQTf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48%">Shares issued – beginning of period</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,996,635</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,236,479</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,386,476</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,227,248</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--SharesHeldBySubsidiaries_iN_di_zchBMR8eYM4h" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Shares held by subsidiaries (Note 7)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--SharesOutstandingBeginningOfPeriod_zPTM9amcfYxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Shares outstanding – beginning of period</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">57,292,326</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,532,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,682,167</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,522,939</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--WeightedAverageSharesIssuedDuringPeriod_zwJFcTvmKA5c" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 5.4pt">Weighted average shares issued <br/>     during the period</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,274</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">64,999</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">261,203</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">30,076</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_z1BqNadNyqr7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt">Diluted weighted average shares – <br/>     end of period</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">57,304,600</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,597,169</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,943,370</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,553,015</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zJGlzBe03nEl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zQ6yaLdTDIQf" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BC_zNZEiXIEwVfk" style="display: none">Schedule of basic income (loss) per share</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31, 2026</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31, 2025</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 66%">Warrants</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zaMDSxKOc0Md" title="Antidilutive securities">6,674,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_904_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVJuhQF5pTT2" title="Antidilutive securities">15,910,225</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Options</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zGdkVhY7p5V6" title="Antidilutive securities">3,651,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zG2wdvYFKZmi" title="Antidilutive securities">4,891,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Convertible debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250701__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertiblesDebtMember_zgfT2nFSfMk" title="Antidilutive securities">5,425,839</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240701__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertiblesDebtMember_zo0cOY9M8x91" title="Antidilutive securities">11,281,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 6674922 15910225 3651600 4891600 5425839 11281483 <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zpHncQazQNfh" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BF_zBdscP1ZAJKh" style="display: none">Schedule of reconciliation of the denominators of the basic and diluted income (loss) per share</span></td><td> </td> <td colspan="2" id="xdx_495_20260101__20260331_z36Gohhup3p" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20250331_zqaMj9e6DSha" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20250701__20260331_zJ3rQ0YRHemd" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_490_20240701__20250331_zsJ4jddv0G6k" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Three months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Three months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Nine months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Nine months</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>ended</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>March 31, 2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_ecustom--SharesIssuedBeginningOfPeriod_zzlZAVsyYQTf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48%">Shares issued – beginning of period</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,996,635</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,236,479</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,386,476</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">57,227,248</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--SharesHeldBySubsidiaries_iN_di_zchBMR8eYM4h" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Shares held by subsidiaries (Note 7)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(704,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--SharesOutstandingBeginningOfPeriod_zPTM9amcfYxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Shares outstanding – beginning of period</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">57,292,326</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,532,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,682,167</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,522,939</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--WeightedAverageSharesIssuedDuringPeriod_zwJFcTvmKA5c" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 5.4pt">Weighted average shares issued <br/>     during the period</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,274</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">64,999</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">261,203</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">30,076</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_z1BqNadNyqr7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt">Diluted weighted average shares – <br/>     end of period</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">57,304,600</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,597,169</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,943,370</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,553,015</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 57996635 57236479 57386476 57227248 704309 704309 704309 704309 57292326 56532170 56682167 56522939 12274 64999 261203 30076 57304600 56597169 56943370 56553015 <p id="xdx_84E_eus-gaap--UseOfEstimates_zl97wVNHh8Ce" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_862_zymkqSizWR5a">Use of estimates:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the Company’s condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zZCIB0drwReb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b><span id="xdx_86B_z0gN4shkBeVk">Recent Accounting Pronouncements:</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its condensed consolidated financial statements and assures that there are proper controls in place to ascertain that the Company’s condensed consolidated financial statements properly reflect the change.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU introduces new requirements to enhance the transparency and decision usefulness of income tax information for financial statement users.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key provisions require all entities to disclose annually their income or loss before income tax, income tax expense (or benefit) from continuing operations, and income taxes paid (net of refunds received), each disaggregated by domestic, foreign, federal (national), and state components. Income taxes paid also require further disaggregation for significant individual jurisdictions. Public Business Entities (PBEs) have additional requirements for a more detailed tabular reconciliation of the effective tax rate, including percentages, amounts, and qualitative descriptions by jurisdiction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is required to adopt ASU 2023-09 for its fiscal year ending June 30, 2026. The adoption is not expected to materially impact the Company's financial statements but will expand annual income tax disclosures. The Company is currently evaluating the full impact of the required disclosures and the adoption method.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_800_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zAH7TfP0WFWc" style="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>3.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_823_zt43E675zq75">PROPERTY AND EQUIPMENT</span>:</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt">Property and equipment consist of the following:</p> <table cellpadding="0" cellspacing="0" id="xdx_880_eus-gaap--PropertyPlantAndEquipmentTextBlock_zR1oSYuZMsn4" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - PROPERTY AND EQUIPMENT (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B1_znOu6WIaGmNd" style="display: none">Schedule of property and equipment</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>March 31, </b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>June 30,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left; padding-bottom: 1pt">Computers and office equipment</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zy0MPDVFA27h" title="Property and equipment, gross">11,649</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_z5uJ9vO5TAq2" title="Property and equipment, gross">12,607</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment, gross</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20260331_zEXCJ8GJUCfc" title="Property and equipment, gross">11,649</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20250630_zh9iAlzz6YI" title="Property and equipment, gross">12,607</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less accumulated depreciation</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0d_di_c20260331_zaWOzzczqIqh" title="Less accumulated depreciation">(11,649</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0d_di_c20250630_zDHZdBbEorZe" title="Less accumulated depreciation">(12,607</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"> Property and equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0d_d0_c20260331_zSc5K1T8Hi3a" title="Property and equipment, net">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0d_d0_c20250630_zlfr4laFq7L5" title="Property and equipment, net">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expense was nil <span id="xdx_90C_eus-gaap--Depreciation_pp0d_c20260101__20260331_zFGj74oyHzU6" style="display: none" title="Depreciation expense">0</span> and $<span id="xdx_90A_eus-gaap--Depreciation_pp0d_c20250101__20250331_zowEH6MBUp9l" title="Depreciation expense">205</span> for the three months ended March 31, 2026 and March 31, 2025, respectively, and nil <span id="xdx_904_eus-gaap--Depreciation_pp0d_c20250701__20260331_z7fKNMFwmrtf" style="display: none" title="Depreciation expense">0</span> and $<span id="xdx_909_eus-gaap--Depreciation_pp0d_c20240701__20250331_zYvVTjTcZn6f" title="Depreciation expense">695</span> for the nine months ended March 31, 2026 and March 31, 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_880_eus-gaap--PropertyPlantAndEquipmentTextBlock_zR1oSYuZMsn4" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - PROPERTY AND EQUIPMENT (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B1_znOu6WIaGmNd" style="display: none">Schedule of property and equipment</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>March 31, </b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2026</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>June 30,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2025</b></p></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left; padding-bottom: 1pt">Computers and office equipment</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zy0MPDVFA27h" title="Property and equipment, gross">11,649</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_z5uJ9vO5TAq2" title="Property and equipment, gross">12,607</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment, gross</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20260331_zEXCJ8GJUCfc" title="Property and equipment, gross">11,649</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_c20250630_zh9iAlzz6YI" title="Property and equipment, gross">12,607</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less accumulated depreciation</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0d_di_c20260331_zaWOzzczqIqh" title="Less accumulated depreciation">(11,649</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0d_di_c20250630_zDHZdBbEorZe" title="Less accumulated depreciation">(12,607</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"> Property and equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0d_d0_c20260331_zSc5K1T8Hi3a" title="Property and equipment, net">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0d_d0_c20250630_zlfr4laFq7L5" title="Property and equipment, net">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 11649 12607 11649 12607 11649 12607 0 0 0 205 0 695 <p id="xdx_80A_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zgoisRCxDe2j" style="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>4.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_828_znBlJaEw2UMb">DEFERRED COMPENSATION</span>:</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 17.85pt 0pt 0.2pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company owes deferred compensation to various employees, former employees and consultants totaling $<span id="xdx_909_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20260331_zS3HOf7rwsuh" title="Deferred compensation liability">1,254,772</span> and $<span id="xdx_90F_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20250630_zAUhdGh2V4uj" title="Deferred compensation liability">1,173,237</span> as of March 31, 2026 and June 30, 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Family members of the late Dominic Bassani, Bion’s former CEO and Mark A. Smith, previously a Director and President are owed a balance of nil <span id="xdx_906_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20260331__srt--TitleOfIndividualAxis__custom--BassaniMember_zOe4Ep72BrLh" style="display: none" title="Deferred compensation liability">0</span> and nil <span id="xdx_901_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20260331__srt--TitleOfIndividualAxis__custom--SmithMember_zL0iS8LX63td" style="display: none" title="Deferred compensation liability">0</span> as of March 31, 2026 and $<span id="xdx_90E_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20250630__srt--TitleOfIndividualAxis__custom--BassaniMember_zfoaHfKOxsu" title="Deferred compensation liability">12,306</span> and $<span id="xdx_906_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20250630__srt--TitleOfIndividualAxis__custom--SmithMember_zu7BlTAjaA51" title="Deferred compensation liability">83,964</span> as of June 30, 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective September 15, 2025, family members of the late Dominic Bassani and Smith, and Edward Schafer, previously a Director, each individually agreed to a settlement (“Settlement Agreements”) that will simplify Bion’s capital structure and substantially reduce the number of Fully Diluted Shares. In consideration of the cancellation of various obligations and security instruments held by Smith and Bassani, including without limitation deferred compensation, Smith and the Bassani heirs will receive shares of common stock, as described below in <b>Note 6. STOCKHOLDERS’ EQUITY</b>. Included in the Bassani family Settlement Agreement was a provision to cancel their remaining 5% obligation under their previous Giveback Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company owes deferred compensation to Craig Scott of $<span id="xdx_900_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20260331__srt--TitleOfIndividualAxis__custom--CraigScottMember_zdqOHIISc6K" title="Deferred compensation liability">420,634</span> and $<span id="xdx_90F_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20250630__srt--TitleOfIndividualAxis__custom--CraigScottMember_zJU4EvZl4Xcb" title="Deferred compensation liability">330,046</span> at March 31, 2026 and June 30, 2025, respectively, interest accrues at 3% per annum and can be converted into shares of the Company’s common stock at the election of the employee during the first five calendar days of any month. The conversion price shall be the average closing price of the Company’s common stock for the last 10 trading days of the immediately preceding month. As of March 31, 2026, the Company and Scott agreed to offset the subscription receivable with the Deferred Compensation balance; $<span id="xdx_90D_ecustom--DeferredCompensationConvertibleToCommonStock_pp0p0_c20250701__20260331__srt--TitleOfIndividualAxis__custom--CraigScottMember_znGtT5Qz4nTc" title="Deferred compensation balance">19,400</span> receivable and $<span id="xdx_901_eus-gaap--InterestExpense_pp0d_c20250701__20260331__srt--TitleOfIndividualAxis__custom--CraigScottMember_zoRl2ksN7MP3" title="Interest expense">5,923</span> in accumulated interest were reduced from the deferred compensation balance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bill O’Neill, former CEO, is owed a balance of $<span id="xdx_90F_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20260331__srt--TitleOfIndividualAxis__custom--BillONeillMember_zG8rN16sRre9" title="Deferred compensation liability">367,500</span> and $<span id="xdx_90A_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20250630__srt--TitleOfIndividualAxis__custom--BillONeillMember_ziODQK1aIhy2" title="Deferred compensation liability">367,500</span> at March 31, 2026 and June 30, 2025, respectively, pursuant to his 2021 employment agreement. There is no interest accrual or conversion rights related to the deferred balance. O’Neill terminated his service to the Company prior to the full term of his agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company also owes various consultants and employees, pursuant to various agreements, for deferred compensation of $<span id="xdx_906_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20260331__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zozeHksXXIR1" title="Deferred compensation liability">394,138</span> and $<span id="xdx_908_eus-gaap--DeferredCompensationLiabilityCurrent_iI_pp0d_c20250630__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zffWq4MRVeKe" title="Deferred compensation liability">306,920</span> as of March 31, 2026 and June 30, 2025, respectively, with similar conversion terms as those described above for Scott. with the exception that the interest accrues at 0% to 3% per annum. The Company also owes a former employee $<span id="xdx_900_ecustom--FormerEmployeeCompensation_pp0p0_c20250701__20260331__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zef3g9dctA4k" title="Former employee compensation">72,500</span>, which is not convertible and is non-interest bearing. As of March 31, 2026, the Company and an employee agreed to offset the subscription receivable with the Deferred Compensation balance; $<span id="xdx_90E_ecustom--DeferredCompensationConvertibleToCommonStock_pp0p0_c20250701__20260331__srt--TitleOfIndividualAxis__custom--EmployeeMember_znFAjRrWARBe" title="Deferred compensation balance">27,000</span> receivable and $<span id="xdx_904_eus-gaap--InterestExpense_pp0d_c20250701__20260331__srt--TitleOfIndividualAxis__custom--EmployeeMember_z0leKPj5hgx3" title="Interest expense">8,243</span> in accumulated interest were reduced from the deferred compensation balance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded interest expense of $<span id="xdx_90D_eus-gaap--InterestExpense_pp0d_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_zJiKvag2amTi" title="Interest expense">4,618</span> and $<span id="xdx_90F_eus-gaap--InterestExpense_pp0d_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_zQAwNCBjCvM" title="Interest expense">4,103</span> ($<span id="xdx_905_ecustom--InterestExpenseRelatedParties_pp0p0_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_zL2gROGpHOMe" title="Interest expense related party"><span id="xdx_90D_ecustom--InterestExpenseRelatedParties_pp0p0_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_zBk0VA8DEuc9" title="Interest expense related party">2,790</span></span> with related parties) for the three months ended March 31, 2026 and 2025, respectively. The Company recorded interest expense of $<span id="xdx_905_eus-gaap--InterestExpense_pp0d_c20250701__20260331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_zGntU6PAfEk6" title="Interest expense">13,887</span> and $<span id="xdx_90A_eus-gaap--InterestExpense_pp0p0_c20240701__20250331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_zoXU9wEmlBxf" title="Interest expense">11,204</span> ($<span id="xdx_90B_ecustom--InterestExpenseRelatedParties_pp0p0_c20250701__20260331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_z9FKsMtsPUM8" title="Interest expense related party"><span id="xdx_90B_ecustom--InterestExpenseRelatedParties_pp0p0_c20240701__20250331__us-gaap--NatureOfExpenseAxis__custom--InterestExpenseOnDeferredCompensationObligationMember_zp5G9x6siDii" title="Interest expense related party">7,501</span></span> with related parties) for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 1254772 1173237 0 0 12306 83964 420634 330046 19400 5923 367500 367500 394138 306920 72500 27000 8243 4618 4103 2790 2790 13887 11204 7501 7501 <p id="xdx_808_eus-gaap--DebtDisclosureTextBlock_zNXy2fQRqv2l" style="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>5.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_82E_zkIdaeqXqgzg">NOTES PAYABLE</span>:</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify"><b>Adjusted 2020 Convertible Obligations and Adjusted September 2015 Convertible Notes</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective February 1, 2023, three (3) directors/officers of the Company agreed to adjust the provisions of long term convertible obligations (including most of the 2020 Convertible Obligations and September 2015 Convertible Notes --- see below) owed to them by the Company in a manner which reduced the indebtedness of the Company by 80% (approximately $3.47 million, in aggregate while equitably maintaining existing conversion rights). The debt modification was treated as an equity transaction because the modifications were with affiliates that are related parties.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mark A. Smith (the Company’s former President)(“Smith”), Dominic Bassani (the Company’s former Chief Operating Officer) (“Bassani”) (<b>NOTE</b>: Dominic Bassani passed away on November 11, 2023) and Ed Schafer (Director)(“Schafer”), adjusted/reduced the principal owed to them by $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_pp0d_c20260331__srt--CounterpartyNameAxis__custom--SmithMember_zFAu88jJNoWe" title="Principal amount">1,109,649</span>, $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0d_c20260331__srt--CounterpartyNameAxis__custom--BassaniMember_zEG5vh9mtEQa" title="Principal amount">1,939,670</span> and $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pp0d_c20260331__srt--CounterpartyNameAxis__custom--SchaferMember_z8FOcslOK1N8" title="Principal amount">424,873</span>, respectively. Subsequent to the adjustment, the adjusted portion of the 2020 Convertible Obligations were renamed Adjusted 2020 Convertible Obligations and the adjusted portion of the September 2015 Convertible Notes were renamed Adjusted September 2015 Convertible Notes. The Adjusted 2020 Convertible Obligations of Smith, Bassani and Schafer are convertible into Units (consisting of 1 share and from one half (1/2) to one (1) warrant) at prices of $<span id="xdx_900_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20260331__srt--CounterpartyNameAxis__custom--SmithMember_zF1pObj8bJRj" title="Convertible price">.0946</span>, $<span id="xdx_902_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20260331__srt--CounterpartyNameAxis__custom--BassaniMember_zfd16kZYZR9" title="Convertible price">.0953</span>, and $<span id="xdx_907_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20260331__srt--CounterpartyNameAxis__custom--SchaferMember_zrhBQbmQxNx7" title="Convertible price">.0953</span>, respectively, and the Adjusted September 2015 Convertible Notes may be converted at the sole election of the noteholders into restricted common shares of the Company at a conversion price of $<span id="xdx_908_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20260331__us-gaap--AwardTypeAxis__custom--RestrictedCommonSharesMember__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember_zE6nV6F1Uo83" title="Convertible price">0.115</span> per share. The adjusted conversion prices slightly reduce the securities to be issued on conversion of each instrument from the amount receivable under the unadjusted instruments. The Adjusted 2020 Convertible Obligations and Adjusted September 2015 Convertible Notes do not accrue any interest until their maturity date. After the adjustment, the Company owed Smith, Bassani (and trust) and Schafer $<span id="xdx_902_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20230201__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__srt--CounterpartyNameAxis__custom--SmithMember_zEvAZqhI2SSh" title="Convertible notes payable">262,154</span>, $<span id="xdx_90D_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20230201__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__srt--CounterpartyNameAxis__custom--BassaniMember_zKn7uHAlGY2l" title="Convertible notes payable">434,016</span> and $<span id="xdx_90A_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20230201__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__srt--CounterpartyNameAxis__custom--SchaferMember_ztQYqOkyknFd" title="Convertible notes payable">96,364</span>, respectively, of Adjusted 2020 Convertible Obligations and Bassani and Schafer, respectively, $<span id="xdx_904_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20230201__srt--CounterpartyNameAxis__custom--BassaniMember__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember_z2KukNObDhR6" title="Convertible notes payable">24,230</span> and $<span id="xdx_90C_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20230201__srt--CounterpartyNameAxis__custom--SchaferMember__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember_zXz7pxzr3id" title="Convertible notes payable">4,012</span> of Adjusted September 2015 Convertible Notes. The Company extended the maturity dates to September 15, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026, the Adjusted 2020 Convertible Obligation balances, including accrued interest, owed Bassani (and his donees), Smith and Edward Schafer were nil. As of June 30, 2025, the Adjusted 2020 Convertible Obligation balances, including accrued interest, owed Bassani (and his donees), Smith and Edward Schafer were $<span id="xdx_90D_eus-gaap--ConvertibleLongTermNotesPayable_iI_pp0d_c20250630__srt--CounterpartyNameAxis__custom--BassaniMember__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember_zfcOnxbHivD4" title="Convertible notes balances">459,277</span>, nil <span id="xdx_902_eus-gaap--ConvertibleLongTermNotesPayable_iI_pp0d_c20250630__srt--CounterpartyNameAxis__custom--SmithMember__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember_zFZZLBJ95Pa2" style="display: none" title="Convertible notes balances">0</span> and $101,973, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026 the Adjusted September 2015 Convertible Notes balances, including accrued interest, owed Bassani Family Trusts and Schafer were nil. As of June 30, 2025 the Adjusted September 2015 Convertible Notes balances, including accrued interest, owed Bassani Family Trusts and Schafer were $<span id="xdx_90A_eus-gaap--ConvertibleLongTermNotesPayable_iI_pp0d_c20250630__srt--CounterpartyNameAxis__custom--BassaniMember__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember_zFNb8KoTNDv3" title="Convertible notes balances">7,907</span> and nil <span id="xdx_90B_eus-gaap--ConvertibleLongTermNotesPayable_iI_pp0d_c20250630__srt--CounterpartyNameAxis__custom--SchaferMember__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember_zy4DyRC8IHxj" style="display: none" title="Convertible notes balances">0</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 15, 2025, a settlement was reached with the Bassani family and Mark Smith to cancel the 2020 Convertible Note, effective on that date. For details on the settlement agreement, see Stockholder Equity (Note 6).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b>2020 Convertible Obligations</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2020 Convertible Obligations (which combined/replaced prior convertible instruments dating to 2017 (or earlier), which accrue interest at either 4% per annum or 4% compounded quarterly and effective January 1, 2020 were due and payable on July 1, 2024. The 2020 Convertible Obligations (including accrued interest, plus all future deferred compensation added subsequently), are convertible, at the sole election of the holder, into Units consisting of one share of the Company’s common stock and one half to one warrant to purchase a share of the Company’s common stock, at a price of $0.50 per Unit until July 1, 2024. The maturity date of the notes was extended to July 15, 2025. The original conversion price of $0.50 per Unit approximated the fair value of the Units at the date of the agreements; therefore, no beneficial conversion feature exists. Management evaluated the terms and conditions of the embedded conversion features based on the guidance of ASC 815-15 “Embedded Derivatives” to determine if there was an embedded derivative requiring bifurcation. An embedded derivative instrument (such as a conversion option embedded in the deferred compensation) must be bifurcated from its host instruments and accounted for separately as a derivative instrument only if the “risks and rewards” of the embedded derivative instrument are not “clearly and closely related” to the risks and rewards of the host instrument in which it is embedded. Management concluded that the embedded conversion feature of the deferred compensation was not required to be bifurcated because the conversion feature is clearly and closely related to the host instrument, and because of the Company’s limited trading volume that indicates the feature is not readily convertible to cash in accordance with ASC 815-10, “Derivatives and Hedging”. Effective February 1, 2023, a large portion of the 2020 Convertible Obligations were adjusted as set forth herein. The maturity date of the notes was extended to September 15, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective January 9, 2025, the Board of Directors amended the terms of the 2020 Adjusted Convertible Note owned by Ed Schafer, who retired from the Company’s Board of Directors on December 31, 2024. The maturity date of the 2020 Adjusted Convertible Note was extended to September 15, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 15, 2025, a settlement was reached with Smith, Bassani and Schafer to cancel the 2020 Adjusted Convertible Note, effective on that date. For details on the settlement agreement, see Stockholder Equity (Note 6).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026, the remaining unadjusted portion of the 2020 Convertible Obligation balances were nil. As of June 30, 2025, the remaining unadjusted portion of the 2020 Convertible Obligation balances, including accrued interest, owed Bassani Family Trusts and Smith were $<span id="xdx_90D_eus-gaap--ConvertibleLongTermNotesPayable_iI_pp0d_c20250630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zED78dzgrAjg" title="Convertible notes balances">386,676</span> and $<span id="xdx_90D_eus-gaap--ConvertibleLongTermNotesPayable_iI_pp0d_c20250630__srt--TitleOfIndividualAxis__srt--PresidentMember__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zX2qL0KV0lrk" title="Convertible notes balances">125,919</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded interest expense of nil <span id="xdx_904_eus-gaap--InterestExpense_pp0d_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zeqcEJPrW6Ki" style="display: none" title="Interest expense">0</span> and $<span id="xdx_902_eus-gaap--InterestExpense_pp0d_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zMnI6YfNUgr3" title="Interest expense">4,380</span> for the three months ended March 31, 2026 and 2025, respectively. The Company recorded interest expense of $<span id="xdx_909_eus-gaap--InterestExpense_pp0d_c20250701__20260331__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zckTjBfMs2qj" title="Interest expense">3,690</span> and $<span id="xdx_905_eus-gaap--InterestExpense_pp0d_c20240701__20250331__us-gaap--DebtInstrumentAxis__custom--The2020ConvertibleObligationsMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zDVQADgkB7E5" title="Interest expense">13,141</span> for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective February 1, 2023, three (3) directors/officers of the Company agreed to adjust the provisions of long-term convertible obligations (including most of the 2020 Convertible Obligations and September 2015 Convertible Notes) owed to them by the Company in a manner which reduced the indebtedness of the Company by 80% (approximately $3.47 million, in aggregate) while equitably maintaining existing conversion rights. Because the modifications were with affiliates that are related parties, the debt modification was treated as an equity transaction. The Company recorded a deemed dividend for the reductions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Smith, Bassani and Schafer, adjusted/reduced the principal owed to them by $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pp0d_c20260331__srt--CounterpartyNameAxis__custom--SmithMember_zpeCO8aiGD7c" title="Principal amount">1,109,649</span>, $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_pp0d_c20260331__srt--CounterpartyNameAxis__custom--BassaniMember_zG7OPJ137Pp1" title="Principal amount">1,939,670</span> and $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pp0d_c20260331__srt--CounterpartyNameAxis__custom--SchaferMember_zOZgBtl3XcE3" title="Principal amount">424,873</span>, respectively. Subsequent to the adjustment, the adjusted portion of the 2020 Convertible Obligations were renamed Adjusted 2020 Convertible Obligations (see above and Note 8).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0.2pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0.2pt; text-align: justify"><b>September 2015 Convertible Notes</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended June 30, 2016, the Company entered into September 2015 Convertible Notes with Bassani, Schafer and a Shareholder which replaced previously issued promissory notes. The September 2015 Convertible Notes bear interest at 4% per annum, have maturity dates of July 1, 2024, and may be converted at the sole election of the noteholders into restricted common shares of the Company at a conversion price of $0.60 per share. As the conversion price of $0.60 approximated the fair value of the common shares at the date of the September 2015 Convertible Notes, no beneficial conversion feature exists. The maturity date of the notes was extended to September 15, 2025 for all note holders. On September 15, 2025 the maturity date for two of the 2015 Convertible Notes was extended to September 15, 2027.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective January 16, 2025, Mr. Schafer voluntarily surrendered 36,918 shares of common stock that would have been issued as the result of the conversion of his $4,246 Adjusted 2015 Convertible Note. The note was convertible at $0.115 per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The balances of the September 2015 Convertible Notes as of March 31, 2026, including accrued interest owed Bassani, Schafer and Shareholder, are nil, nil, and $<span id="xdx_903_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20260331__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember__srt--CounterpartyNameAxis__custom--ShareholderMember_znzT5mhTIPs7" title="Convertible notes payable">502,444</span>, respectively. As of June 30, 2025, the remaining unadjusted portion of the 2015 Convertible Notes balances including accrued interest, were $<span id="xdx_900_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20250630__srt--CounterpartyNameAxis__custom--BassaniMember__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember_zbzhA3p4LFS5" title="Convertible notes payable">169,383</span>, nil <span id="xdx_907_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20250630__srt--CounterpartyNameAxis__custom--SchaferMember__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember_zjD8GtylZkAk" style="display: none" title="Convertible notes payable">0</span> and $<span id="xdx_90D_eus-gaap--ConvertibleNotesPayable_iI_pp0d_c20250630__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember__srt--CounterpartyNameAxis__custom--ShareholderMember_zng1HVVerZKk" title="Convertible notes payable">491,107</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded interest expense of $<span id="xdx_902_eus-gaap--InterestExpense_pp0d_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zL876dPfa3jl" title="Interest expense">3,779</span> and $<span id="xdx_907_eus-gaap--InterestExpense_pp0d_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zw7XatD2XGyg" title="Interest expense">5,079</span> for the three months ended March 31, 2026 and 2025, respectively. The Company recorded interest expense of $<span id="xdx_90B_eus-gaap--InterestExpense_pp0d_c20250701__20260331__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zWvwVJdQs8ma" title="Interest expense">12,421</span> and $<span id="xdx_904_eus-gaap--InterestExpense_pp0d_c20240701__20250331__us-gaap--DebtInstrumentAxis__custom--September2015ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zjApoCcidD91" title="Interest expense">15,238</span> for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b>Convertible Bridge Loan/Default</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 28, 2023, the Company entered into an agreement for a $<span id="xdx_908_eus-gaap--ConvertibleDebt_iI_pp0d_c20230928__us-gaap--TypeOfArrangementAxis__custom--ConvertibleBridgeLoanDefaultMember_zs5VxHyHt659" title="Bridge loan">1,500,000</span> bridge loan and executed documents including a convertible promissory note (“Note”) and a binding subscription agreement (“Subscription”) (collectively the Note and the Subscription are the “Bridge Loan Agreements”) with SEB LLC, a non-affiliated party (“Lender”). SEB and the note represented a strategic investment that would ‘anchor’ a larger capital raise. In addition to SEB, it was to include an offering to Bion shareholders, alongside new retail and institutional investors introduced by Titan Partners, the NY investment banking firm Bion engaged to underwrite the offering. The Bridge Loan Agreements required the Lender to loan the Company $1,500,000 in six monthly tranches of $<span id="xdx_909_eus-gaap--ConvertibleDebt_iI_pp0d_c20231031__us-gaap--TypeOfArrangementAxis__custom--ConvertibleBridgeLoanDefaultMember_zRQDRsA8RONe" title="Bridge loan">250,000</span> commencing October 2023. All sums advanced under the Bridge Loan Agreements (and accrued interest thereon) would be due and payable (with interest accrued at <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20230928__us-gaap--TypeOfArrangementAxis__custom--ConvertibleBridgeLoanDefaultMember_zpyZBQYMHq9i" title="Interest accrued percentage">9</span>% per annum) on October 1, 2024 if not previously converted into securities of the Company. The Note is convertible at $<span id="xdx_906_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20230928__us-gaap--TypeOfArrangementAxis__custom--ConvertibleBridgeLoanDefaultMember_zSxb0Fe0x6Kl" title="Convertible price">1.00</span> per unit, at the sole election of the Lender, into units consisting of one share of the Company’s common stock and a warrant to purchase one half share. The initial $<span id="xdx_905_ecustom--InitialTranche_pp0d_c20231003__20231005_zJNgyEgfAey8" title="Initial tranche">250,000</span> tranche was received by the Company on October 5, 2023. However, no further funds were received by the Company from the Lender. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The balances of the Convertible Bridge Loan, including accrued interest, are $<span id="xdx_901_eus-gaap--InterestExpense_pp0d_c20250701__20260331__us-gaap--DebtInstrumentAxis__custom--ConvertibleBridgeLoanDefaultMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zvQX4XijqRe1" title="Interest expense">482,206</span> and $<span id="xdx_901_eus-gaap--InterestExpense_pp0d_c20240701__20250331__us-gaap--DebtInstrumentAxis__custom--ConvertibleBridgeLoanDefaultMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zgETYpH4YwDa" title="Interest expense">454,957</span> as of March 31, 2026 and June 30, 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 10, 2024 the Company received $150,000 from affiliates of the Bridge Loan Lender on terms not yet finalized and included in an agreement. These funds were received in the context of negotiations/discussions regarding a potential larger investment by affiliates and/or associates of the Lender but no further funds were received and the larger transaction was never completed. The funds were used primarily to re-initiate operations at the Initial Project. The Company is currently involved in discussions with representatives of SEB in an effort to achieve a mutually satisfactory resolution.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded interest expense of $<span id="xdx_90C_eus-gaap--InterestExpenseOther_pp0d_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--ConvertibleBridgeLoanDefaultMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zO8UDz2CXfuj" title="Interest expense other">8,950</span> and $<span id="xdx_907_eus-gaap--InterestExpenseOther_pp0d_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--ConvertibleBridgeLoanDefaultMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zOaVSBLs77Bc" title="Interest expense other">8,950</span> for the three months ended March 31, 2026 and 2025, respectively. The Company recorded interest expense of $<span id="xdx_90C_eus-gaap--InterestExpenseOther_pp0d_c20250701__20260331__us-gaap--DebtInstrumentAxis__custom--ConvertibleBridgeLoanDefaultMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z9KLOxnZMtBb" title="Interest expense other">27,249</span> and $<span id="xdx_90F_eus-gaap--InterestExpenseOther_pp0d_c20240701__20250331__us-gaap--DebtInstrumentAxis__custom--ConvertibleBridgeLoanDefaultMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zBIquzI0BgPj" title="Interest expense other">27,249</span> for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note payable - related party</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 22, 2024, Bion's Board of Directors ratified an agreement with the Bion BLG, LLC, loan group, effective October 15, 2024, to purchase a Convertible Promissory Note in the principal amount of up to $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_pp0d_c20241022__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zd0WoskOr3Gg" title="Principal amount">500,000</span>. The Company received advances during the year ended June 30, 2025 in the amount of $399,763 and interest was applied based on the date the funds were received. The Company received an additional amount of $<span id="xdx_905_ecustom--AdditionalAmount_pp0d_c20250701__20250930__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zrjYwgjyjNvj" title="Additional amount">7,972</span> during the quarter ended September 30, 2025. The note bears interest at <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20241022__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z5Q0MkivolFc" title="Debt instrument interest rate">7.5</span>% per annum and had a maturity date of <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20241021__20241022__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zRVgyMrgc2Dk" title="Maturity date">April 15, 2025</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Three Bion Directors (Schoener, Stovall – former/resigned, and Weerts – former/deceased) are members of the loan group and together comprise 60% ownership of the loan group (each member owns 20%). The Note is secured by the Company's Intellectual Property (IP)/patents. The Note will convert into securities in the Company at the terms of a later capital raise (or other source of funding) in excess of $3.0 million, which must be completed within six (6) months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective May 29, 2025, the Company entered into a Forbearance Agreement with Bion BLG, LLC, extending the maturity date of the BLG Note to July 15, 2025 (See Bion’s Form 8-K, dated May 30, 2025).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><br/> On July 24, 2025, the Company entered into a Forbearance Agreement with Bion BLG, LLC, (effective July 15, 2025) extending the maturity date of the BLG Note to <span id="xdx_900_eus-gaap--DebtInstrumentMaturityDate_dd_c20250701__20250724__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zYdygM0i8nHb" title="Maturity date">January 15, 2026</span> (attached as exhibit). The agreement was ratified by Bion’s Board on July 24, 2025. Under the terms of the Forbearance Agreement, the amounts outstanding under the Note will continue to bear interest at a rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20250724__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zgpkCQaxbdy1" title="Debt instrument interest rate">9</span>% per annum. Bion agreed to a new formula to determine BLG’s obligation for up to $<span id="xdx_907_eus-gaap--LegalFees_pp0d_c20250701__20250724__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z6ErRJiXCL82" title="Legal costs">100,000</span> in legal costs related to litigation over delinquent payment for construction costs incurred at Bion’s demonstration facility near Fair Oaks, IN (see Bion’s Forms 8-K, dated April 17, May 30 and July 24, 2025). Bion BLG, LLC, also extended their agreement to share their collateral with investors in the three prior Shareholder Note offerings, with investors participating in a new offering, dated July 25, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><br/> On January 8, 2026, the Bion Loan Group (BLG) informed Bion it was extending the maturity date of its Convertible Promissory Note’s Second Forbearance Agreement, with an effective date of <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20260107__20260108__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zHkiiIecqt94" title="Maturity date">July 15, 2025</span> (see 8-K filed July 24, 2025), under the same terms and conditions (including the collateral sharing agreement), until June 30, 2026. Bion BLG, LLC, also extended their agreement to share their collateral with investors in the three prior Shareholder Note offerings, with investors participating in a new offering, dated January 8, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The balances of the Convertible Note Advances including accrued interest owed is $<span id="xdx_906_eus-gaap--InterestPayableCurrent_pp0d_c20260331__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zx0EfWsBgym2" title="Accrued interest">466,521</span> and $<span id="xdx_902_eus-gaap--InterestPayableCurrent_iI_pp0d_c20250630__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zUgmvZmPNWxb" title="Accrued interest">423,053</span> as of March 31, 2026 and June 30, 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded interest expense of $<span id="xdx_90E_eus-gaap--InterestExpense_pp0d_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zHlSVgTB4wSf" title="Interest expense">9,198</span> and $<span id="xdx_90F_eus-gaap--InterestExpense_pp0d_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zzpcb5IbiuI7" title="Interest expense">7,393</span> for the three months ended March 31, 2026 and 2025, respectively. The Company recorded interest expense of $<span id="xdx_904_eus-gaap--InterestExpense_pp0d_c20250701__20260331__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zaJ1grfyhsV9" title="Interest expense">27,496</span> and $<span id="xdx_901_eus-gaap--InterestExpense_pp0d_c20240701__20250331__us-gaap--DebtInstrumentAxis__custom--NotePayableRelatedPartyMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z9zavn28U4tf" title="Interest expense">14,550</span> for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b>May 2024 Convertible Notes</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended June 30, 2024, the Company entered into May 2024 Convertible Notes with five individuals. The May 2024 Convertible Notes bear interest at 6% per annum, had maturity dates of December 31, 2025, and may be converted at the sole election of the noteholders into one restricted common shares and one warrant of the Company at a conversion price of $1.00 per unit. The maturity date of the notes has been extended to June 30, 2026. As the conversion price of $1.00 approximated the fair value of the common shares at the date of the May 2024 Convertible Notes, no beneficial conversion feature exists.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The balances of the May 2024 Convertible Notes including accrued interest owed is $<span id="xdx_903_eus-gaap--InterestPayableCurrent_iI_pp0d_c20260331__us-gaap--DebtInstrumentAxis__custom--May2024ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zu5V8UcUzpRe" title="Accrued interest">138,697</span> and $<span id="xdx_902_eus-gaap--InterestPayableCurrent_iI_pp0d_c20250630__us-gaap--DebtInstrumentAxis__custom--May2024ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zgGb1OtABqYa" title="Accrued interest">133,067</span> as of March 31, 2026 and June 30, 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded interest expense of $<span id="xdx_90B_eus-gaap--InterestExpense_pp0d_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--May2024ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zniw82kwp7nl" title="Interest expense">1,890</span> and $<span id="xdx_90E_eus-gaap--InterestExpense_pp0d_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--May2024ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zj65PDGdAcTg" title="Interest expense">1,890</span> for the three months ended March 31, 2026 and 2025, respectively. The Company recorded interest expense of $<span id="xdx_90E_eus-gaap--InterestExpense_pp0d_c20250701__20260331__us-gaap--DebtInstrumentAxis__custom--May2024ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zomXuym0LJE3" title="Interest expense">5,630</span> and $<span id="xdx_90A_eus-gaap--InterestExpense_pp0d_c20240701__20250331__us-gaap--DebtInstrumentAxis__custom--May2024ConvertibleNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z2JzJJ1gq2uj" title="Interest expense">5,630</span> for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b>Convertible Notes</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has issued multiple series of convertible notes to various individuals from November 1, 2024 through March 31, 2026. The convertible notes bear interest at a rate of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zWpkZgOUs3Oe" title="Debt instrument interest rate">7.5</span>% per annum. The original maturity date for all series was December 31, 2025, which has subsequently been extended to <span id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_dd_c20250701__20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z9rfyM2OieOb" title="Maturity date">June 30, 2026</span>.<br/> <br/> The Notes will automatically convert into units of the Company ("Units") upon the closing of a later capital raise in which the Company raises aggregate capital of at least $3 million. The conversion will occur at the terms of that future capital raise.<br/> <br/> The aggregate balances of all convertible notes, including accrued interest are $<span id="xdx_90A_eus-gaap--InterestPayableCurrent_iI_pp0d_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zYQ8VExcb6Hh" title="Accrued interest">1,165,969</span> and $<span id="xdx_90A_eus-gaap--InterestPayableCurrent_iI_pp0d_c20250630__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zmyL5xc1dcp3" title="Accrued interest">434,823</span> as of March 31, 2026 and June 30, 2025, respectively.<br/> <br/> The company recorded interest expense of $<span id="xdx_904_eus-gaap--InterestExpense_pp0d_c20260101__20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zzQa7XV4Do0d" title="Interest expense">17,751</span> and $<span id="xdx_90D_eus-gaap--InterestExpense_pp0d_c20250101__20250331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zo8zAAAll45l" title="Interest expense">2,787</span> for the three months ended March 31, 2026 and 2025, respectively. The Company recorded interest expense of $<span id="xdx_90C_eus-gaap--InterestExpense_pp0d_c20250701__20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zPAV7EnB5sk1" title="Interest expense">42,076</span> and $<span id="xdx_904_eus-gaap--InterestExpense_pp0d_c20240701__20250331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zqNVwkl4RuH1" title="Interest expense">2,868</span>, for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"></p> 1109649 1939670 424873 0.0946 0.0953 0.0953 0.115 262154 434016 96364 24230 4012 459277 0 7907 0 386676 125919 0 4380 3690 13141 1109649 1939670 424873 502444 169383 0 491107 3779 5079 12421 15238 1500000 250000 0.09 1.00 250000 482206 454957 8950 8950 27249 27249 500000 7972 0.075 2025-04-15 2026-01-15 0.09 100000 2025-07-15 466521 423053 9198 7393 27496 14550 138697 133067 1890 1890 5630 5630 0.075 2026-06-30 1165969 434823 17751 2787 42076 2868 <p id="xdx_801_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zagY55MyUhc9" style="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>6.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_82C_zSeMpjio5rW5">STOCKHOLDERS’ EQUITY</span>:</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b>Write down of carry value of Initial Project</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective June 30, 2024, at the same time the Initial Project was deemed placed in service, the Board of Directors determined that the capitalized carrying value of the Initial Project on the Company balance sheet as of that date be reduced to $<span id="xdx_909_ecustom--CarryingValueOfInitialProject_iI_pp0d_c20240630_zbrZdQrU6yy5" title="Carrying value of Initial Project">0</span> in order to conform to the applicable accounting practices, because the Initial Project was recently reclassified as largely a research &amp; development facility and is located on land subject to a short term lease (as described below in Item 2, Management’s Discussion and Analysis). As a result, a large ‘one time/non-recurring’ ‘non-cash’ charge of $<span id="xdx_90F_eus-gaap--AssetImpairmentCharges_pp0d_c20230701__20240630_z0ZBFZl27JRa" title="Non-cash expenses">9,460,425</span> has been taken by the Company at that date which charge reduced the Company shareholders’ equity to ($<span id="xdx_90B_eus-gaap--StockholdersEquityOther_pp0d_c20230701__20240630_zcDRSztsADA4" title="Stockholders equity">5,808,501</span>) and resulted in a loss of $<span id="xdx_90A_eus-gaap--NetIncomeLoss_pp0d_c20230701__20240630_zamApl3oLKpg" title="Net loss">11,691,115</span> for the 2024 fiscal year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>“Giveback Agreements” and “Settlement Agreements” to Additional Paid in Capital</b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective April 1, 2024 the Company entered into two material definitive agreements (“Giveback Agreements”) regarding voluntary surrender for cancellation of securities of the Company (and related matters) by: a) members of the family of Dominic Bassani, recently deceased former Chief Executive Officer and (with his family) the Company’s largest shareholder (collectively “Bassani Family”)(see Exhibit 10.1)(“Bassani Family Agreement”), and b) Mark A. Smith, recently retired President of the Company and a director (see Exhibit 10.2)(“MAS Agreement”). The Bassani Family and Smith entered into these agreements with the intention of mitigating dilution to shareholders as new, successor management is added to the Company’s management team. The “giveback” agreements were treated as equity transactions because the forfeitures were with affiliates that are related parties.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Bassani Family agreed to surrender not less than approximately 20% of its Company holdings (as of December 2023), which surrender would increase to approximately 30% based on certain financing performances. The Bassani Family elected to surrender deferred compensation of $<span id="xdx_90B_eus-gaap--AccruedBonusesCurrent_iI_pp0d_c20240630__us-gaap--TypeOfArrangementAxis__custom--BassaniFamilyMember_zkFhpG54y1Jd" title="Accrued deferred compensation">652,252</span> (for <span id="xdx_908_eus-gaap--ConversionOfStockSharesConverted1_c20230701__20240630__us-gaap--TypeOfArrangementAxis__custom--BassaniFamilyMember_zl9HcSobvA17" title="Conversion of stock, shares">770,792</span> shares), $<span id="xdx_901_eus-gaap--AccruedBonusesCurrent_iI_pp0d_c20240630__us-gaap--TypeOfArrangementAxis__custom--AdjustedReplacementNote2015Member_zwe5pfX3mkdf" title="Accrued deferred compensation">17,734</span> of partial surrender of the 2015 adjusted replacement note (for <span id="xdx_902_eus-gaap--ConversionOfStockSharesConverted1_c20230701__20240630__us-gaap--TypeOfArrangementAxis__custom--AdjustedReplacementNote2015Member_z6gOvHMlkuOj" title="Conversion of stock, shares">154,208</span> shares) and <span id="xdx_90F_eus-gaap--ConversionOfStockSharesConverted1_c20230701__20240630__us-gaap--FinancialInstrumentAxis__us-gaap--OptionMember_zlvnHhZroS25" title="Conversion of stock, shares">4,025,000</span> options as of June 30, 2024. The Bassani Family Agreement also sets forth requirements regarding conversion of convertible notes held by members of the Bassani Family after the security surrender.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 18, 2025, under the Bassani Family Agreement described above, Bion cancelled <span id="xdx_90B_ecustom--NumberOfWarrantsCancelled_c20250101__20250118__us-gaap--TypeOfArrangementAxis__custom--BassaniFamilyAgreementMember_zU3cDM8TxQa5" title="Number of warrants cancelled">1,237,500</span> warrants owned by the Bassani Family. Under the terms of the Agreement, the Bassani Family was required to surrender an additional 5% of their holdings after Bion successfully raised $<span id="xdx_90C_ecustom--FundRaised_pp0d_c20250101__20250118__us-gaap--TypeOfArrangementAxis__custom--BassaniFamilyAgreementMember_zaLGFn20fpC" title="Fund raised">500,000</span> in funding, following the date of the agreement. The warrants had a net exercise cost of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250118__us-gaap--TypeOfArrangementAxis__custom--BassaniFamilyAgreementMember_zawNyLW4Qei4" title="Warrant exercise price">0.1875</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">MAS agreed to surrender approximately 30% of his Company holdings (as of December 2023). Immediately upon the effectiveness of the MAS Agreement, he cancelled all Company options held by him (<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_c20250701__20260331__us-gaap--TypeOfArrangementAxis__custom--MASAgreementMember_zF5xnz8bZT06" title="Options cancelled">2,425,000</span>, in aggregate) and waived $<span id="xdx_903_eus-gaap--AccruedBonusesCurrent_iI_pp0d_c20260331__us-gaap--TypeOfArrangementAxis__custom--MASAgreementMember_zMHVfhbgHu05" title="Accrued deferred compensation">56,250</span> of accrued deferred compensation (convertible into <span id="xdx_90B_eus-gaap--ConversionOfStockSharesConverted1_c20250701__20260331__us-gaap--TypeOfArrangementAxis__custom--MASAgreementMember_z63Ev574jBme" title="Conversion of stock, shares">75,000</span> shares of the Company’s common stock). The MAS Agreement also sets forth requirements regarding conversion of convertible notes held by MAS after the security surrender and references the planned retirement of MAS on or before May 15, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequently, and effective June 27, 2024, the Board of Directors of the Company agreed to amend the terms of the agreements dated April 1, 2024. The amendments solely extend any dates of certain required conversions and/or exercises (and related promissory note maturity dates and warrant expiration dates), if any, that were earlier than January 15, 2025, to said date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 9, 2025, the Company agreed to amend the terms of the agreements dated April 1, 2024 regarding voluntary surrender for cancellation of securities of the Company (and related matters) by: a) members of the family of Dominic Bassani, recently deceased former Chief Executive Officer and (with his family) the Company’s largest shareholder (collectively “Bassani Family”)(see Form 8-K dated April 3, 2024, Exhibit 10.1)(“Bassani Family Agreement”), and b) Mark A. Smith, President of the Company and a director (“MAS”)(see Form 8-K dated April 3, 2024, Exhibit 10.2)(“MAS Agreement”). The Bassani Family and MAS entered into these agreements with the intention of mitigating dilution to shareholders as new, successor management is added to the Company’s management team. The amendments solely extend any dates of certain required conversions and/or exercises (and related promissory note maturity dates and warrant expiration dates), if any, that were dated January 15, 2025, to April 15, 2025. No changes were made regarding any ‘give backs’ of securities of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective September 15, 2025, family members of the late Dominic Bassani, Bion’s former CEO, Mark A. Smith, previously a Director and President, and Edward Schafer, previously a Director, have each individually agreed to a settlement (“Settlement Agreements”) that will simplify Bion’s capital structure and substantially reduce the number of Fully Diluted Shares. In consideration of the cancellation of various obligations, as noted below, and security instruments held by the Holders, including without limitation deferred compensation, convertible notes, warrants, and options, that could have increased the <span id="xdx_90C_ecustom--SettlementAgreementsDescrition_c20250901__20250915__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementsMember_zZ7CM3rIjL3e" title="Settlement agreements descrition">Company's outstanding shares by up to 22,498,405 shares, if all were fully converted or exercised. The Holders (as a whole) will receive, in aggregate, 8,101,746 shares of common stock. The transactions will produce a net reduction in fully diluted shares of approximately 14,369,659 shares. Included in the Bassani family agreement was a provision to cancel their remaining 5% obligation under the Giveback Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 18, 2025 the <span id="xdx_903_ecustom--SettlementAgreementsDescrition_c20250901__20250918__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementsMember__srt--TitleOfIndividualAxis__custom--BassaniMember_zAQ8f2aQ68c3" title="Settlement agreements descrition">Bassani family agreed to 7,200,000 shares and surrendered 7,506,369 warrants, 2020 Adjusted Trust Note balance of $459,277, 2020 Collateral Note balance of $389,318, Replacement Note balance $170,466, adjusted replacement note balance of $7,908, deferred compensation balance of $12,409, accrued life insurance payable balance of $140,000, offset with the subscription receivable balance of $555,333, representing up to 18,466,011 shares if fully converted or exercised.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 17, 2025, <span id="xdx_909_ecustom--SettlementAgreementsDescrition_c20250901__20250917__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementsMember__srt--TitleOfIndividualAxis__custom--SmithMember_zlU0GF42xMi5" title="Settlement agreements descrition">MAS agreed to 400,000 shares and surrendered 2020 Collateral Note balance of $126, 958, deferred compensation balance of $84,664, expense reimbursement balance of $41,246, offset with the subscription receivable balance of $38,531, representing up to 1,188,428 shares if fully converted or exercised.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 18, 2025, <span id="xdx_909_ecustom--SettlementAgreementsDescrition_c20250901__20250918__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementsMember__srt--TitleOfIndividualAxis__custom--SchaferMember_zyo7ehCB4HJ7" title="Settlement agreements descrition">Schafer agreed to 501,746 shares and surrendered 23,934 warrants, 1,215,000 options and the 2020 Adjusted Convertible Note balance of $101,974, representing up to 2,843,966 shares if fully converted or exercised.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 22, 2026, the Board of Directors ratified granting a 90-day extension to the issuance of <span id="xdx_90D_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_c20260122__srt--CounterpartyNameAxis__custom--DanielleLominyMember_zck76NLT1Agj" title="Settlement shares">7,701,746</span> settlement shares to two affiliates of the Company (Danielle Lominy and Christopher Parlow, family members of the late Dominic Bassani, Bion’s former CEO), and two non-affiliates of the Company (Dominic Bassani’s spouse and Edward Schafer, previously a Director) (referred to hereinafter collectively as ‘Holders’), effective January 15, 2026. The Holders have agreed to the extension. The shares will be issued by April 15, 2026, or earlier upon the election of the individual Holders.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 15, 2026, at the request of Danielle Lominy, Christopher Parlow, Edward Schafer, and Dominic Bassani’s spouse, Bion agreed to extend the issuance of their settlement shares to December 31, 2026, subject to a capital raise or other source of funding which would trigger the immediate issuance of the shares. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify"><b>Series B Preferred stock:</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since July 1, 2014, the Company had <span id="xdx_906_eus-gaap--PreferredStockSharesOutstanding_iI_c20140701__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z6xvuFBdLxci" title="Preferred stock, shares outstanding">200</span> shares of Series B redeemable convertible Preferred stock outstanding with a par value of $<span id="xdx_90F_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20140701__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zv1xB4RGdni2" title="Preferred stock, par value">0.01</span> per share, convertible at the option of the holder at $<span id="xdx_90E_ecustom--PreferredStockConvertibleOptionPerShare_iI_c20140701__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zkWB4x7wp8ek" title="Preferred stock, convertible option per share">2.00</span> per share, with dividends accrued and payable at 2.5% per quarter. The Series B Preferred stock is mandatorily redeemable at $<span id="xdx_90A_eus-gaap--PreferredStockRedemptionPricePerShare_iI_c20140701__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zmPXGITVNyq8" title="Preferred stock, redemption price per share">100</span> per share by the Company three years after issuance and accordingly was classified as a liability. The 200 shares had reached their redemption date and the Company approved the redemption of the Series B preferred stock during the year ended June 30, 2022. The 200 shares of Series B redeemable convertible Preferred stock were redeemed for $<span id="xdx_907_ecustom--RedemptionOfConvertiblePreferredStock_pp0d_c20250701__20260331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zPiLgj3p9tn3" title="Redemption of convertible preferred stock">41,000</span>, which included the $<span id="xdx_905_eus-gaap--DividendsPayableCurrentAndNoncurrent_iI_pp0d_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zUUyVVKlGNla" title="Dividends payable">21,000</span> in accrued dividend payable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the nine months ended March 31, 2026 and the year ended June 30, 2025, the Company declared dividends of nil <span id="xdx_909_eus-gaap--DividendsPreferredStock_pp0d_c20250701__20260331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zgZRSbL8Kpf5" style="display: none" title="Dividends, preferred stock">0</span> and nil <span id="xdx_905_eus-gaap--DividendsPreferredStock_pp0d_c20240701__20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z8uY6WRKRwg8" style="display: none" title="Dividends, preferred stock">0</span> respectively. The dividends are classified as a component of operations as the Series B Preferred stock is presented as a liability in these condensed consolidated financial statements. There is <span id="xdx_900_eus-gaap--LiabilitiesCurrent_iI_do_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zyCOkj70HRkh" title="Liability">no</span> liability at March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Common stock:</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of common stock are entitled to one vote per share on all matters to be voted on by common stockholders. In the event of liquidation, dissolution or winding up of the Company, the holders of common stock are entitled to share in all assets remaining after liabilities have been paid in full or set aside and the rights of any outstanding preferred stock have been satisfied. Common stock has no preemptive, redemption or conversion rights. The rights of holders of common stock are subject to, and may be adversely affected by, the rights of the holders of any outstanding series of preferred stock or any series of preferred stock the Company may designate in the future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Centerpoint holds <span id="xdx_90A_ecustom--SharesHeldsBySubsidiaries_c20250701__20260331_zFuvnwTZua5" title="Shares held by subsidiaries">704,309</span> shares of the Company’s common stock. These shares of the Company’s common stock held by Centerpoint are for the benefit of its shareholders without any beneficial interest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the nine months ended March 31, 2026, <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zkvBTDPYKtOf" title="Number of shares issued">330,144</span> shares of common stock were issued as cashless warrant exercises.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the nine months ended March 31, 2026, <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__srt--CounterpartyNameAxis__custom--MarkSmithMember_z3rdKTQDLhXf" title="Number of shares issued">400,000</span> shares of common stock were issued as to Mark Smith for the Settlement Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b>Warrants:</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026, the Company had approximately <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn5n6_c20260331_zodfQfcg6id4" title="Outstanding warrants">6.7</span> million warrants outstanding, with exercise prices from $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20260331__srt--RangeAxis__srt--MinimumMember_zF4w3dQqddOe" title="Warrant exercise price">0.74</span> to $1.60 and expiring on various dates through December 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The weighted-average exercise price for the outstanding warrants is $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantsMember_zQK6OJdsoZIj" title="Weighted average exercise price">0.91</span>, and the weighted-average remaining contractual life as of March 31, 2026 is <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250701__20260331__us-gaap--AwardTypeAxis__custom--WarrantsMember_z5OeAdrgua3d" title="Remaining contractual life">.41</span> years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 31, 2026 the Company modified <span id="xdx_906_ecustom--NumberOfWarrantsModified_c20250701__20260331_zIwdcLgmpbzk" title="Number of warrants modified">1,915,090</span> warrants by extending the exercise date from March 31, 2026 to December 31, 2026. The valuation method used by the Company determines the valuation based on prior private placements. 9 month extensions were valued at $0.0375. The Company had interest expense of $<span id="xdx_907_eus-gaap--InterestExpenseDebt_pp0d_c20250701__20260331_zNxxjGpgidf5" title="Interest expense">71,816</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 31, 2025 the Company modified <span id="xdx_906_ecustom--NumberOfWarrantsModified_c20250101__20251231_zXFstr7YtNJ4" title="Number of warrants modified">2,020,090</span> warrants by extending the exercise date from December 31, 2025 to March 31, 2026. The valuation method used by the Company determines the valuation based on prior private placements. Three month extensions were valued at $0.013. The Company had interest expense of $<span id="xdx_90A_ecustom--NoncashCompensation_pp0d_c20250101__20251231_zjVaiM1gICt9" title="Non-cash compensation">25,251</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 28, 2025 the Company modified <span id="xdx_903_ecustom--NumberOfWarrantsModified_c20251027__20251028_zYcEEcdqtYIc" title="Number of warrants modified">35,000</span> warrants by extending the exercise date from November 30, 2025 to September 30, 2026. The valuation method used by the Company determines the valuation based on prior private placements. Ten month extensions were valued at $0.042. The Company had interest expense of $<span id="xdx_900_ecustom--NoncashCompensation_pp0d_c20251027__20251028_zMqTjNIlIike" title="Non-cash compensation">1,458</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 28, 2025 the Company modified <span id="xdx_90F_ecustom--NumberOfWarrantsModified1_c20251027__20251028_zmQ4sNG008w3" title="Number of warrants modified">50,000</span> warrants by extending the exercise date from October 31, 2025 to September 30, 2026. The valuation method used by the Company determines the valuation based on prior private placements. Eleven month extensions were valued at $0.046. The Company had interest expense of $<span id="xdx_902_ecustom--NoncashCompensation1_pp0d_c20251027__20251028_z2xXHzhpbIUh" title="Non-cash compensation">2,292</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 15, 2025 the Company modified <span id="xdx_904_ecustom--NumberOfWarrantsModified_c20250715__20250915_zj66WRTfU6hc" title="Number of warrants modified">3,000,000</span> warrants by extending the exercise date from July 15, 2025 to September 15, 2025. The valuation method used by the Company determines the valuation based on prior private placements. Six month or less extensions were valued at $0.002. The Company had non-cash employee compensation of $<span id="xdx_90D_ecustom--NoncashCompensation_pp0d_c20250715__20250915_zn9Y04ZBJbEc" title="Non-cash compensation">68,750</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 15, 2025 the Company modified <span id="xdx_905_ecustom--NumberOfWarrantsModified_c20250715__20250815_zi8kicANaeEd" title="Number of warrants modified">5,909,869</span> warrants by extending the exercise date from July 15, 2025 to August 15, 2025. On August 15, 2025 the Company modified the same warrants by extending the exercise date from August 15, 2025 to September 15, 2025. The valuation method used by the Company determines the valuation based on prior private placements. Six month extensions or less were valued at $0.002. The Company had non-cash employee compensation of $<span id="xdx_906_ecustom--NoncashCompensation_pp0d_c20250715__20250815_zYoSaxefQJZf" title="Non-cash compensation">48,697</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 30, 2025 the Company modified <span id="xdx_906_ecustom--NumberOfWarrantsModified_c20250929__20250930_zDn3bJ3VNFPe" title="Number of warrants modified">1,222,005</span> warrants by extending the exercise date from September 30, 2025 to September 30, 2026. The valuation method used by the Company determines the valuation based on prior private placements. Twelve month extensions were valued at $0.05. The Company had interest expense of $<span id="xdx_90D_eus-gaap--InterestExpenseOther_pp0d_c20250929__20250930_zD0SSwKTf8S5" title="Interest expense">61,100</span>. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 15, 2025, settlements were reached with MAS, the Bassani family and Schafer, to surrender additional securities. Included in the Bassani family agreement was a provision to cancel their remaining 5% obligation under the Giveback Agreement. For details on the settlement agreement, see Giveback and Settlement Agreements above.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"><b>Stock options:</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 7, 2022 the Company’s shareholders approved the Bion Environmental Technologies, Inc. 2021 Equity Incentive Award Plan (the “<span style="text-decoration: underline">Equity Plan</span>”). The Equity Plan provides for the issuance of options (and/or other securities) to purchase up to <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20220407__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--PlanNameAxis__custom--EquityIncentivePlanMember_zAjs3BtSmkDb" title="Stock options, authorized">30,000,000</span> shares of the Company’s common stock. The Equity Plan was adopted and ratified by Board of Directors on April 8, 2022. Terms of exercise and expiration of options/securities granted under the Equity Plan may be established at the discretion of the Board of Directors, but no option may be exercisable for more than ten years. No grants have been made pursuant to the Equity Plan as of the date of this report.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s 2006 Consolidated Incentive Plan, as amended during the year ended June 30, 2021 (the “2006 Plan”), provides for the issuance of options (and/or other securities) to purchase up to <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zRHR3b2oXTAj" title="Stock options, authorized">36,000,000</span> shares of the Company’s common stock. Terms of exercise and expiration of options/securities granted under the 2006 Plan may be established at the discretion of the Board of Directors, but no option may be exercisable for more than ten years. The 2006 Plan will be maintained to service grants already made thereunder (together with new grants, if any, to employees and consultants who already has received grants pursuant to its terms).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded compensation expense related to employee stock options of nil <span id="xdx_909_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pp0d_c20250701__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zosM8oahLO3j" style="display: none" title="Compensation expense related to employee stock options">0</span> and $<span id="xdx_903_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pp0d_c20240701__20250331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zZnnf1cSucK2" title="Compensation expense related to employee stock options">332,128</span> for the nine months ended March 31, 2026 and 2025, respectively. The Company granted nil <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20250701__20260331__us-gaap--FinancialInstrumentAxis__us-gaap--OptionMember_zaa18S0WMArb" style="display: none" title="Granted, options">0</span> and nil <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20240701__20250331__us-gaap--FinancialInstrumentAxis__us-gaap--OptionMember_zVORPUciO958" style="display: none" title="Granted, options">0</span> options for the nine months ended March 31, 2026 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 15, 2024 the Company modified <span id="xdx_903_ecustom--NumberOfOptionsModified_c20240701__20240715_zM7AR6FUMgq5" title="Number of options modified">3,806,600</span> options by extending the exercise date. <span id="xdx_90C_ecustom--NumberOfOptionsModified_c20240701__20240715__srt--CounterpartyNameAxis__custom--EmployeesAndDirectorsMember_z5rbESJEQu9c" title="Number of options modified">3,736,600</span> options held by employees and directors were extended two years from December 31, 2024 to December 31, 2026. <span id="xdx_903_ecustom--NumberOfOptionsModified_c20240701__20240715__srt--CounterpartyNameAxis__custom--NonEmployeesMember_zAphOodynOTa" title="Number of options modified">70,000</span> options with a non-employee were extended one year from December 31, 2024 to December 31, 2025. The Company used the Black- Scholes valuation method and expensed $<span id="xdx_90C_ecustom--NoncashCompensation_pp0d_c20240701__20240715_zM82x9EsGyEf" title="Non-cash compensation">332,128</span> to non-cash compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On September 15, 2025, a settlement was reached with Mr. Schafer to cancel the 2020 Adjusted Convertible Note and surrender 1,215,000 options, effective on that date. For details on the settlement agreement, see giveback and settlement agreements above.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 31, 2025 the Company modified <span id="xdx_902_ecustom--NumberOfOptionsModified_c20250101__20251231_zFJxMAJ19Bw4" title="Number of options modified">430,000</span> options held by employees, directors and non-employees by extending the exercise date three months from December 31, 2025 to March 31, 2026. The Company used the Black- Scholes valuation method and expensed nil to non-cash compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 31, 2026 the Company modified <span id="xdx_909_ecustom--NumberOfOptionsModified_c20250701__20260331_zrymXdOcGm2k" title="Number of options modified">430,000</span> options held by employees, directors and non-employees by extending the exercise date nine months from March 31, 2026 to December 31, 2026. The Company used the Black- Scholes valuation method and expensed $<span id="xdx_902_ecustom--NoncashCompensation_pp0d_c20250701__20260331_z18dcl0teEM5" title="Non-cash compensation">7,260</span> to non-cash compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A summary of option activity under the 2006 Plan for the nine months ended March 31, 2026 is as follows:</p> <table cellpadding="0" cellspacing="0" id="xdx_88A_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zfqD1ss9P0Ad" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCKHOLDERS' EQUITY (Details)"> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; vertical-align: bottom"><span id="xdx_8BF_zq2jPfCckuIi" style="display: none">Schedule of option activity</span></td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; vertical-align: bottom"> </td><td style="padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Options</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Weighted- <br/> Average <br/> Exercise <br/> Price</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Weighted- <br/> Average <br/> Remaining <br/> Contractual <br/> Life</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Aggregate <br/> Intrinsic <br/> Value</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 44%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at July 1, 2025</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250701__20260331_zFBr6PwmiI6l" title="Number of options outstanding, beginning balance">4,891,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250701__20260331_z1l4FXwhU6N5" title="Weighted-average exercise price, beginning balance">0.85</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240701__20250630_zaED6LLVsLn7" title="Weighted-average remaining contractual life (Year)">1.40</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0d_d0_c20250701__20260331_zmS8VtmSHq0h" title="Aggregate intrinsic value, beginning balance">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Granted</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20250701__20260331_zIoI8AOdp9nc" title="Number of options, granted">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20250701__20260331_zQVOXUBVit95" title="Weighted-average exercise price, granted">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Exercised</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_d0_c20250701__20260331_zYnObJJ3vsV6" title="Number of options, exercised">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20250701__20260331_zLIPqfj6BUyh" title="Weighted-average exercise price, exercised">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Forfeited</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250701__20260331_zoniFTlnCYTd" title="Number of options, forfeited">(1,215,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250701__20260331_zsIMZTd7YBJ8" title="Weighted-average exercise price, forfeited">0.78</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedWeightedAverageRemainingContractualTerm1_dtY_c20250701__20260331_zHoZXYSgMYtg" title="Weighted-average remaining contractual life (Year), forfeited">1.3</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_pp0d_d0_c20260331_zl4b6DOR0Owe" title="Aggregate intrinsic value, forfeited">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Expired</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di0_c20250701__20260331_zZkLY1tRFhE2" title="Number of options, expired">(25,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_d0_c20250701__20260331_zU0LFD65XK88" title="Weighted-average exercise price, expired">0.60</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">—</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at March 31, 2026</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250701__20260331_zVTVqAjlW479" title="Number of options outstanding, ending balance">3,651,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250701__20260331_zMlxwp1c0VAf" title="Weighted-average exercise price, ending balance">0.87</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250701__20260331_zViTnGQikMv6" title="Weighted-average remaining contractual life (Year)">0.75</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0d_d0_c20250701__20260331_zsAfzFLPUHjc" title="Aggregate intrinsic value, ending balance">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The total fair value of stock options that vested during the nine months ended March 31, 2026 and 2025, was nil <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pp0d_c20250701__20260331_z3rUaTjczD78" style="display: none" title="Fair value of stock options">0</span> and nil <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pp0d_c20240701__20250331_z0wRGo6XXwW9" style="display: none" title="Fair value of stock options">0</span> respectively. As of March 31, 2026, the Company had <span id="xdx_908_eus-gaap--UnrecognizedTaxBenefits_iI_pp0d_do_c20260331_zsR4E1yMSG35" title="Unrecognized compensation cost">no</span> unrecognized compensation cost related to stock options.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 0 9460425 5808501 11691115 652252 770792 17734 154208 4025000 1237500 500000 0.1875 2425000 56250 75000 Company's outstanding shares by up to 22,498,405 shares, if all were fully converted or exercised. The Holders (as a whole) will receive, in aggregate, 8,101,746 shares of common stock. The transactions will produce a net reduction in fully diluted shares of approximately 14,369,659 shares. Included in the Bassani family agreement was a provision to cancel their remaining 5% obligation under the Giveback Agreement. Bassani family agreed to 7,200,000 shares and surrendered 7,506,369 warrants, 2020 Adjusted Trust Note balance of $459,277, 2020 Collateral Note balance of $389,318, Replacement Note balance $170,466, adjusted replacement note balance of $7,908, deferred compensation balance of $12,409, accrued life insurance payable balance of $140,000, offset with the subscription receivable balance of $555,333, representing up to 18,466,011 shares if fully converted or exercised. MAS agreed to 400,000 shares and surrendered 2020 Collateral Note balance of $126, 958, deferred compensation balance of $84,664, expense reimbursement balance of $41,246, offset with the subscription receivable balance of $38,531, representing up to 1,188,428 shares if fully converted or exercised. Schafer agreed to 501,746 shares and surrendered 23,934 warrants, 1,215,000 options and the 2020 Adjusted Convertible Note balance of $101,974, representing up to 2,843,966 shares if fully converted or exercised. 7701746 200 0.01 2.00 100 41000 21000 0 0 0 704309 330144 400000 6700000 0.74 0.91 P0Y4M28D 1915090 71816 2020090 25251 35000 1458 50000 2292 3000000 68750 5909869 48697 1222005 61100 30000000 36000000 0 332128 0 0 3806600 3736600 70000 332128 430000 430000 7260 <table cellpadding="0" cellspacing="0" id="xdx_88A_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zfqD1ss9P0Ad" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCKHOLDERS' EQUITY (Details)"> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; vertical-align: bottom"><span id="xdx_8BF_zq2jPfCckuIi" style="display: none">Schedule of option activity</span></td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; vertical-align: bottom"> </td><td style="padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Options</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Weighted- <br/> Average <br/> Exercise <br/> Price</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Weighted- <br/> Average <br/> Remaining <br/> Contractual <br/> Life</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Aggregate <br/> Intrinsic <br/> Value</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 44%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at July 1, 2025</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250701__20260331_zFBr6PwmiI6l" title="Number of options outstanding, beginning balance">4,891,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250701__20260331_z1l4FXwhU6N5" title="Weighted-average exercise price, beginning balance">0.85</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240701__20250630_zaED6LLVsLn7" title="Weighted-average remaining contractual life (Year)">1.40</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0d_d0_c20250701__20260331_zmS8VtmSHq0h" title="Aggregate intrinsic value, beginning balance">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Granted</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20250701__20260331_zIoI8AOdp9nc" title="Number of options, granted">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20250701__20260331_zQVOXUBVit95" title="Weighted-average exercise price, granted">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Exercised</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_d0_c20250701__20260331_zYnObJJ3vsV6" title="Number of options, exercised">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20250701__20260331_zLIPqfj6BUyh" title="Weighted-average exercise price, exercised">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Forfeited</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250701__20260331_zoniFTlnCYTd" title="Number of options, forfeited">(1,215,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250701__20260331_zsIMZTd7YBJ8" title="Weighted-average exercise price, forfeited">0.78</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedWeightedAverageRemainingContractualTerm1_dtY_c20250701__20260331_zHoZXYSgMYtg" title="Weighted-average remaining contractual life (Year), forfeited">1.3</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_pp0d_d0_c20260331_zl4b6DOR0Owe" title="Aggregate intrinsic value, forfeited">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  Expired</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di0_c20250701__20260331_zZkLY1tRFhE2" title="Number of options, expired">(25,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_d0_c20250701__20260331_zU0LFD65XK88" title="Weighted-average exercise price, expired">0.60</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">—</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at March 31, 2026</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250701__20260331_zVTVqAjlW479" title="Number of options outstanding, ending balance">3,651,600</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250701__20260331_zMlxwp1c0VAf" title="Weighted-average exercise price, ending balance">0.87</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250701__20260331_zViTnGQikMv6" title="Weighted-average remaining contractual life (Year)">0.75</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0d_d0_c20250701__20260331_zsAfzFLPUHjc" title="Aggregate intrinsic value, ending balance">—</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4891600 0.85 P1Y4M24D 0 0 0 0 0 1215000 0.78 P1Y3M18D 0 25000 0.60 3651600 0.87 P0Y9M 0 0 0 0 <p id="xdx_805_ecustom--SubscriptionReceivableAffiliatesTextBlock_z39z5293mgPj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>7.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_82E_z9GJPEwuaH6k">SUBSCRIPTION RECEIVABLE - AFFILIATES</span>:</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of September 15, 2025 the subscription receivable balance of $<span id="xdx_904_ecustom--SubscriptionReceivableBalance_iI_pp0d_c20250915__us-gaap--TypeOfArrangementAxis__custom--GivebackAndSettlemenAgreementsMember_zGI6gqBXsUOg" title="Subscription receivable balance">590,048</span> (including $<span id="xdx_90F_eus-gaap--InterestExpenseOther_pp0d_c20250914__20250915__us-gaap--TypeOfArrangementAxis__custom--GivebackAndSettlemenAgreementsMember_zxsN3LUylqll" title="Interest expense">131,798</span> of interest) was included in the Giveback Agreement, see Stockholders Equity (Note 6) for details of the giveback and settlement agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of September 30, 2025, the Company and Scott agreed to offset the subscription receivable with the Deferred Compensation balance; $<span id="xdx_906_ecustom--SubscriptionReceivableBalance_iI_pp0d_c20250930__srt--TitleOfIndividualAxis__custom--CraigScottMember_zkywab3FWf85" title="Subscription receivable balance">19,400</span> receivable and $<span id="xdx_901_eus-gaap--InterestExpenseOther_pp0d_c20250929__20250930__srt--TitleOfIndividualAxis__custom--CraigScottMember_zj7Pkt1We152" title="Interest expense">5,923</span> in accumulated interest were reduced from the deferred compensation balance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of September 30, 2025, the Company and an employee agreed to offset the subscription receivable with the Deferred Compensation balance; $<span id="xdx_90E_ecustom--SubscriptionReceivableBalance_iI_pp0d_c20250930__srt--TitleOfIndividualAxis__custom--EmployeeMember_zab9nu6PNowl" title="Subscription receivable balance">27,000</span> receivable and $<span id="xdx_904_eus-gaap--InterestExpenseOther_pp0d_c20250929__20250930__srt--TitleOfIndividualAxis__custom--EmployeeMember_zHWPXi65Clph" title="Interest expense">8,243</span> in accumulated interest were reduced from the deferred compensation balance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 590048 131798 19400 5923 27000 8243 <p id="xdx_801_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zsxTQjc3NYLg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>8.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_82F_zGA0vo8F3L0e">COMMITMENTS AND CONTINGENCIES</span>:</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>A: Employment/Consulting (and related) agreements:</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stephen Craig Scott (“Scott”) was appointed interim CEO effective June 1, 2024. Scott had previously been working with the Company as an employee/consultant since 1993 in various positions including Director of Communications, SVP- Capital Markets and Head of Business Development. On October 25, 2023, Scott entered into an agreement with the Company which included provisions for a monthly salary of $<span id="xdx_90F_ecustom--DefferedMonthlySalary_pp0d_c20231001__20231025__srt--TitleOfIndividualAxis__custom--StephenCraigScottMember_zmdwVZMomNvc" title="Deffered monthly salary">14,000</span> almost all of which Scott deferred to help the Company conserve cash. For the nine months ended March 31, 2026 and year ended June 30, 2025, deferred compensation was $<span id="xdx_90C_eus-gaap--SalariesWagesAndOfficersCompensation_pp0d_c20250701__20260331__srt--TitleOfIndividualAxis__custom--DeferredCompensationMember_zbiVtrSL1187" title="Salary paid">271,000</span> and $<span id="xdx_904_eus-gaap--SalariesWagesAndOfficersCompensation_c20240701__20250630__srt--TitleOfIndividualAxis__custom--DeferredCompensationMember_z3e8Jkg5qpik" title="Salary paid">163,000</span>, respectively. For the three months ended March 31, 2026 and 2025, Scott was paid $<span id="xdx_908_eus-gaap--SalariesWagesAndOfficersCompensation_pp0d_c20260101__20260331__srt--TitleOfIndividualAxis__custom--StephenCraigScottMember_zuy7w23q3XSi" title="Salary paid">10,000</span> and $<span id="xdx_90F_eus-gaap--SalariesWagesAndOfficersCompensation_pp0d_c20250101__20250331__srt--TitleOfIndividualAxis__custom--StephenCraigScottMember_zQ1E2EpSbLT" title="Salary paid">5,000</span> respectively. For the nine months ended March 31, 2026 and 2025, Scott was paid $<span id="xdx_909_eus-gaap--SalariesWagesAndOfficersCompensation_pp0d_c20250701__20260331__srt--TitleOfIndividualAxis__custom--StephenCraigScottMember_zurdgZGb0Ija" title="Salary paid">18,000</span> and $<span id="xdx_90F_eus-gaap--SalariesWagesAndOfficersCompensation_pp0d_c20240701__20250331__srt--TitleOfIndividualAxis__custom--StephenCraigScottMember_zprIYam6dDWg" title="Salary paid">5,000</span> respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective April 1, 2024 the Company entered into two material definitive agreements regarding voluntary surrender for cancellation of securities of the Company (and related matters) by: a) members of the family of Dominic Bassani, recently deceased former Chief Executive Officer and (with his family) the Company’s largest shareholder (collectively “Bassani Family”)(“Bassani Family Agreement”), and b) Mark A. Smith, recently retired President of the Company and a director (“MAS”) (“MAS Agreement”), as described in multiple places herein. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until his retirement on July 31, 2024, MAS held the positions of Director, President, Interim Chief Financial Officer and General Counsel of Company (and its subsidiaries) under various agreements (and extensions) and terms since March 2003. Over the years, MAS accumulated various obligations and security instruments, including without limitation deferred compensation, convertible notes, warrants, and options, as noted above in 6. STOCKHOLDERS EQUITY, Giveback and Settlement Agreements. On September 18, 2025, MAS surrendered all obligations and security instruments and accepted 400,000 common shares in settlement. For the three months ended March 31, 2026 and 2025, MAS was paid nil <span id="xdx_906_eus-gaap--ShareBasedCompensation_c20260101__20260331__srt--CounterpartyNameAxis__custom--SmithMember_z4RLFkMrzlL3" style="display: none" title="Stock- based compensation">0</span> and nil <span id="xdx_90E_eus-gaap--ShareBasedCompensation_c20250101__20250331__srt--CounterpartyNameAxis__custom--SmithMember_zMRvJ6O8iMRj" style="display: none" title="Stock- based compensation">0</span>, respectively, of cash compensation. For the nine months ended March 31, 2026 and 2025, MAS was paid nil <span id="xdx_904_eus-gaap--ShareBasedCompensation_c20250701__20260331__srt--CounterpartyNameAxis__custom--SmithMember_zgQaa9m9xh9k" style="display: none" title="Stock- based compensation">0</span> and nil <span id="xdx_90F_eus-gaap--ShareBasedCompensation_c20240701__20250331__srt--CounterpartyNameAxis__custom--SmithMember_z526L8epbaEc" style="display: none" title="Stock- based compensation">0</span>, respectively, of cash compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dominic Bassani, who was serving as the Company’s Chief Operating Officer (‘COO’) at the time, passed away on November 11, 2023. He had served as the Company’s Chief Executive Officer (‘CEO’) since 2011 (any reference to Brightcap or Bassani for all purposes are referring to the same individual). Over the years, Bassani accumulated various obligations and security instruments, including without limitation deferred compensation, convertible notes, warrants, and options, as noted above in 6. STOCKHOLDERS EQUITY, Giveback and Settlement Agreements. On September 18, 2025, the Bassani family surrendered all obligations and security instruments and accepted 7,200,000 common shares in settlement. For the three months ended March 31, 2026 and 2025, Bassani/Brightcap was paid nil <span id="xdx_902_eus-gaap--RepaymentsOfLongTermDebt_pp0d_c20260101__20260331__srt--TitleOfIndividualAxis__custom--BassaniMember_z8A0b6j4zRP3" style="display: none" title="Repayments of compensation">0</span> and nil <span id="xdx_906_eus-gaap--RepaymentsOfLongTermDebt_pp0d_c20250101__20250331__srt--TitleOfIndividualAxis__custom--BassaniMember_zqvaKCLqsao" style="display: none" title="Repayments of compensation">0</span>, respectively, of cash compensation. For the nine months ended March 31, 2026 and 2025, Bassani/Brightcap was paid nil <span id="xdx_906_eus-gaap--RepaymentsOfLongTermDebt_pp0d_c20250701__20260331__srt--TitleOfIndividualAxis__custom--BassaniMember_ztgigkIEyxN" style="display: none" title="Repayments of compensation">0</span> and nil <span id="xdx_90A_eus-gaap--RepaymentsOfLongTermDebt_pp0d_c20240701__20250331__srt--TitleOfIndividualAxis__custom--BassaniMember_zwNU8QqWgR93" style="display: none" title="Repayments of compensation">0</span>, respectively, of cash compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>B: Initial Project:</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 28, 2022 Bion Environmental Technologies, Inc. (‘Bion’), on behalf of Bion 3G1 LLC (‘3G1’), a wholly-owned subsidiary, entered into a Purchase Order Agreement with Buflovak and Hebeler Process Solutions (collectively ‘Buflovak’) in the amount of $<span id="xdx_90C_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0d_c20220127__20220128__us-gaap--TransactionTypeAxis__custom--PurchaseOrderAgreementMember__us-gaap--TypeOfArrangementAxis__custom--InitialProjectMember_zEGdNMYy6nK" title="Debt instrument paid amount">2,665,500</span> (and made the initial <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20220127__20220128__us-gaap--TransactionTypeAxis__custom--PurchaseOrderAgreementMember__us-gaap--TypeOfArrangementAxis__custom--InitialProjectMember_zseC8dRIh3f6" title="Debt instrument, interest rate">25</span>% payment ($<span id="xdx_90D_eus-gaap--DebtInstrumentPeriodicPayment_pp0d_c20220127__20220128__us-gaap--TransactionTypeAxis__custom--PurchaseOrderAgreementMember__us-gaap--TypeOfArrangementAxis__custom--InitialProjectMember_ziC8zLXpfU04" title="Principal, interest">666,375</span>) for the core of the ‘Bion System’ portion (without the crystallization modules which will be ordered and fabricated pursuant to subsequent agreements) of the previously announced 3G Tech Initial Project. This Purchase Order encompassed the core of Bion’s 3G Technology. The Company received progress billing in March 2022 and June 2022 for the second and third <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20220301__20220331_zzFpN7r1Pbxa" title="Debt instrument, interest rate"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20220601__20220630_zE4JuIf477fg" title="Debt instrument, interest rate">25</span></span>% installments, both of which have been paid as of the filing date. On January 17, 2023 the Company received an invoice from Buflovak for $<span id="xdx_902_eus-gaap--DebtInstrumentPeriodicPayment_pp0d_c20230228__20230301_zgyjBbgcpyYl" title="Principal, interest">533,100</span> which was paid on March 1, 2023 and on April 24, 2023 the Company received an invoice from Buflovak for $<span id="xdx_900_eus-gaap--PrepaidExpenseAndOtherAssets_iI_pp0d_c20230502_zQDjra0ucg3g" title="Paid invoice amount">83,275</span> which was paid on May 2, 2023 bringing the aggregate payments to $<span id="xdx_90D_ecustom--AggregatePayment_pp0d_c20250701__20260331_zk8dCdF95lW5" title="Aggregate payment">2,615,500</span> as of the date of this filing. On July 26, 2023 the Company received the final invoice for $<span id="xdx_90A_eus-gaap--DebtInstrumentPeriodicPayment_pp0d_c20230725__20230726_zKHFhKoVk2Cj" title="Principal, interest">50,000</span>, $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPayment_pp0d_c20240101__20240102_zU44xGQydDhj" title="Principal, interest">16,666</span> was paid on January 2, 2024 leaving a balance of $<span id="xdx_909_ecustom--FinalInvoiceBalance_pp0d_c20240101__20240102_zXynzXGitzAf" title="Final invoice balance">33,334</span>. In addition to the Purchase Order, through March 31, 2026 the Company has incurred additional costs of $<span id="xdx_903_eus-gaap--InterestCostsIncurredCapitalized_pp0d_c20250701__20260331_zWHIGyePGf04" title="Capitalized labour and interest costs">6,794,925</span> on the Initial Project for capitalized interest and costs, non-cash compensation, equipment and consulting fees. $<span id="xdx_909_ecustom--InterestCostsCapitalizedPaid_pp0d_c20250701__20260331_zuQxsRpyMZNg" title="Capitalized labour and interest costs paid">7,371,371</span> has been paid and $<span id="xdx_909_eus-gaap--InterestCostsCapitalizedAdjustment_pp0d_c20250701__20260331_zgGMOlIurndd" title="Capitalized labour and interest costs yet to pay">1,658,469</span> has been billed and not yet paid.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Buflovak (a division of Hebeler Process Solutions) has worked with the Company on design and testing of its 3G Tech over several years. The basic design for the Initial Project’s ARS System, fabrication and delivery of equipment from Buflovak, and assembly/construction were completed in July 2023, followed by system startup. Steady-state operations were achieved in September 2023, after which time we began optimization of the ARS in preparation for providing final design for full-scale systems, as well as demonstrating its performance and economics for an independent engineering report. Due to delays and interruptions in our ability to operate the system (as below), those efforts have continued to date. We worked in concert with Integrated Engineering Services, the primary site engineering firm for the facility, on the integration of all project components/modules at the Initial Project site during assembly/construction. Additional agreements were entered into with various professional services providers (engineers, surveyors, utilities, etc.) for work related to the Initial Project. The Company has incurred costs of $<span id="xdx_900_ecustom--InterestsCostsIncurredCapitalized_pp0d_c20250701__20260331_zFh1koDxRlMg" title="Interests costs incurred capitalized">8,406,434</span> on the Initial Project, not including capitalized labor and interest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management previously believed that the Initial Project had reached the point where it could be appropriately deemed ‘placed in service’ at January 1, 2024. However, discussions with the key technical and engineering personnel involved at the Initial Project during the recently concluded quarter convinced management that such a characterization was premature as some key modules had not yet been completed and/or fully tested. Additionally, due to some recent equipment break-downs, the Initial Project was in maintenance mode at that time (and not conducting operations), while the Company awaited required replacement parts and subsequent repairs. This process was slowed by the Company’s ongoing difficulties in raising needed funds for its activities. The Company’s Board of Directors re-evaluated the classification/status of the Initial Project as part of the Company’s annual review process and determined that the Initial Project had been ‘placed in service’ at the June 30, 2024, fiscal year end. Further, after extensive discussion, it was determined that the ‘carrying value’ of the Initial Project on the Company balance sheet as of that date be reduced to $0 in order to conform to accepted accounting practices, because the Initial Project was recently reclassified as largely a research &amp; development facility and is located on land subject to a short term lease (as described below in Item 2, Management’s Discussion and Analysis). As a result, a large ‘one time/non-recurring’ ‘non-cash’ charge of $<span id="xdx_90A_eus-gaap--AssetImpairmentCharges_pp0d_c20230701__20240630_zRLQyCtuwVj4" title="Non-cash expenses">9,460,425</span> has been taken by the Company at that date which charge reduced the Company shareholders’ equity to ($<span id="xdx_905_eus-gaap--StockholdersEquityOther_pp0d_c20230701__20240630_z7sgwYaxOCA6" title="Stockholders equity">5,808,501</span>) and resulted in a loss of $<span id="xdx_909_eus-gaap--NetIncomeLoss_pp0d_c20230701__20240630_zCnSii1dBHkb" title="Net loss">11,691,115</span> for the 2024 fiscal year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>C: Lease:</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company entered into an agreement on September 23, 2021, to lease approximately four acres of land near Fair Oaks, Indiana, for the development site of its Initial Project. The original lease ended on December 31, 2024 and there is an agreement to extend month to month at the same rate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has not made consistent lease payments since October 16, 2023. The Company made four payments totaling $<span id="xdx_903_eus-gaap--OperatingLeasePayments_pp0d_c20241001__20241031_zMJjobugX4K5" title="Lease payments">25,000</span> in the fiscal year to date. The Company owes $<span id="xdx_908_eus-gaap--OperatingLeasePayments_pp0d_c20250701__20260331_zClPDxORW2F9" title="Lease payments">137,500</span> in lease payments at March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>D: Litigation (and related matters):</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 16, 2025, the Company was served a summons by Hamstra Builders, Inc. (“Hamstra”) along with three other defendants: Bion Technologies, Inc. (“Biontech”), Bion 3G-1, LLC (“3G-1”), both entities of Bion Environmental Technologies, Inc., and North Prairie Holdings, LLC (‘NPHLLC”) the property lessor. The Hamstra suit is related to the Notice of Intent to file a Mechanic’s Lien, that was filed April 16, 2024, and has been disclosed in our public filings since that date. Bion has retained counsel in Indiana to represent the company in these actions. Hamstra is seeking to recover $1,494,513 in unpaid invoices related to the construction of Bion’s Ammonia Recovery System at Fair Oaks, Indiana. This sum includes $653,915 owed to Dilling Group, Inc., a subcontractor of Hamstra. Dilling filed suit to recover that amount on March 31, 2025, which was disclosed in Bion’s 8-K, dated April 7, 2025. These amounts are included in Accounts payable and accrued expenses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company currently is not involved in any other material litigation or similar events.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> 14000 271000 163000 10000 5000 18000 5000 0 0 0 0 0 0 0 0 2665500 0.25 666375 0.25 0.25 533100 83275 2615500 50000 16666 33334 6794925 7371371 1658469 8406434 9460425 5808501 11691115 25000 137500 <p id="xdx_805_eus-gaap--SubsequentEventsTextBlock_zmJZwEdiUJGb" style="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>9.</b></span><b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_827_zTXfgZRedf47">SUBSEQUENT EVENTS</span>:</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has evaluated events that occurred subsequent to March 31, 2026 for recognition and disclosure in the financial statements and notes to the financial statements:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the filing date, the Company had subscription agreements on the January 2026 Convertible Notes for $<span id="xdx_909_eus-gaap--CommonStockSharesSubscriptions_iI_c20260131_zhFHhQT7uhO8" title="Subscription agreements">339,800</span>, and commissions owed of $<span id="xdx_909_ecustom--CommissionsOwed_iI_c20260131_zOuAHShLeA3a" title="Commissions owed">10,194</span>. The January 2026 Convertible Notes bear interest at <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20260131_zjkj72im2HE2" title="Debt instrument interest rate">7.5</span>% per annum, have maturity dates of <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260131_z2b9XHXCcI4k" title="Maturity date">June 30,2026</span>. The January 2026 Convertible Notes will convert into Units in the Company at the terms of a later capital raise, in which the Company crosses the threshold of $3 million aggregate capital raised, including proceeds from the filing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 339800 10194 0.075 2026-06-30 false false false false